Business Daily from THE HINDU group of publications
Thursday, Dec 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Dec 20, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee weakens further Mumbai, Dec 19 The rupee weakened further against the greenback on dollar demand by oil companies. The home currency opened at 39.48/50 and saw an intra-day low of 39.66 before ending the day at 39.59/60, down from the previous close of 39.54/55. "The dollar demand from oil companies and banks for NDF related activity weakened the rupee," said a dealer at a private bank. Foreign exchange dealers expect the rupee to weaken further to 39.75 this week. In forwards, the six-month premia closed at 1.64 per cent (1.76 per cent) and the 12-month closed at 1.20 per cent (1.30 per cent). - Our Bureau
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