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Money & Banking
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Forex
Rupee trading volatile
Mumbai, Dec 7
It was a volatile day for rupee on Friday, with the home
currency witnessing a two-way movement. The rupee
opened at 39.4350/45 and
saw an intra-day low of
39.4650 and a high of
39.3850 before ending the
day at 39.41, up from the
previous close of 39.49.
"There was custodial
selling by some foreign
banks which helped the
rupee strengthen to
39.3850, however, the RBI
soon intervened in the
market buying dollars
through nationalised banks
which pushed the rupee up
at 39.41," said a dealer at a private bank. In forwards, the
six-month premia closed at 1.59 per cent (1.51 per cent)
and the 12-month closed at 1.21 per cent (1.15 per cent). -
Our Bureau
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