Business Daily from THE HINDU group of publications
Wednesday, Dec 19, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Dec 19, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee ends flat Mumbai, Dec 18 The rupee ended flat at 39.54/55 on Tuesday. The home currency opened at 39.60 and saw an intra-day high of 39.62 before ending the day at 39.54/55. "The rupee movement has been in line with the domestic stock market," said Mr V. Rajagopal, Senior Vice- President, Kotak Mahindra Bank. Foreign exchange dealers said that the dollar has been gaining against other major currencies such as the euro and yen. Dealers expect the rupee to weaken further to 39.75 this week. In forwards, the six-month premia closed at 1.76 per cent (1.98 per cent) and the 12-month closed at 1.30 per cent (1.40 per cent). - Our Bureau
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