Business Daily from THE HINDU group of publications
Thursday, Oct 25, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Oct 25, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee trims gains Mumbai, Oct 24 The rupee was almost flat against the dollar as the RBI's intervention trimmed gains made by the domestic currency during the day. It opened at 39.50 and touched an intra-day high of 39.4575. It, however, closed the day at 39.58/59, against Tuesday's close at 39.5950/60. Dealers said that there were heavy dollar supplies in the forex market but the central bank stepped in to rein in the home currency. "Market players who had gone short also began buying dollars at this stage," said a dealer at a private bank. In the forward premia market, the six-month closed at 0.97 per cent (0.94) and the 12- month ended at 0.93 per cent (0.87). - Our Bureau
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