Business Daily from THE HINDU group of publications
Tuesday, Dec 11, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 11, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee rangebound in dull trade Mumbai, Dec 10 The spot rupee market was very dull and the currency was rangebound. It moved in a narrow range of 39.39 and 39.41 during the day, said dealers. On Monday, the rupee opened at 39.38 and closed at 39.40, almost unchanged against Friday's close of 39.41. According to a forex dealer with a private bank, players are not willing to take positions ahead of the meeting of the US Federal Reserve on December 11, when it is likely to announce a rate cut. "The market may be lacklustre tomorrow as well," he said. In the overseas market, the dollar was rangebound against other currencies. The pound and euro gained marginally against the dollar. In forwards, the six-month premia closed at 1.61 per cent (1.59 per cent) and the 12-month closed at 1.21 per cent (1.21 per cent). - Our Bureau
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