Business Daily from THE HINDU group of publications
Wednesday, Dec 12, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Dec 12, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Money & Banking
-
Forex Rupee gains on Fed rate cut hopes Mumbai, Dec 11 The rupee gained on expectations that the US Federal Reserve may cut interest rates by 25 basis points at its meeting on December 11. The rupee opened flat at 39.40 and closed at 39.35, up five paise from the earlier close of 39.40. A dealer with a private bank said, "There was lot of selling and, hence, lot of dollar inflows as the market is expecting a rate cut by the US Fed. The market is bullish right now and has already factored in a 25 basis point rate cut." If the US Fed cuts rates by 50 basis points the rupee could open higher by 10-15 paise on Wednesday, the dealer said. The US dollar was flat against other global currencies, ahead of the Fed meet, he added. In forwards, the six-month premia closed at 1.79 per cent (1.61 per cent) and the 12-month closed at 1.34 per cent (1.21 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
|