Business Daily from THE HINDU group of publications
Friday, Oct 12, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Oct 12, 2007 ePaper |
|
|
|
|
|
|
|
Money & Banking
-
Forex Rupee closes at 39.30 Mumbai, Oct. 11 The rupee surged to an intra-day high of 39.28 against the dollar on Thursday after Infosys came out with its quarterly results. The home currency opened at 39.32 and immediately went up to 39.28 before ending the day at 39.30/31. Foreign exchange dealers said that the Reserve Bank of India started intervening at 39.28 levels and was thereafter continuously intervening, trying to cap the appreciation of rupee. "The RBI was buying throughout the day in order to cap the further strengthening of the rupee," a dealer with a private bank said. Market participants, however, expect the rupee to appreciate further to 39 levels. In forwards, the six-month premia closed at 1.75 per cent (1.49 per cent) and the 12-month closed at 1.36 per cent (1.20 per cent). - Our Bureau More Stories on : Forex
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|