Business Daily from THE HINDU group of publications
Tuesday, Jan 01, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 01, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee gains marginally Mumbai, Dec 31 The rupee gained slightly against the dollar on Monday. The home currency opened at 39.38/40 and saw an intraday low of 30.43 before ending the day at 39.41/42, against the previous close of 39.42/43. Foreign exchange dealers said that the RBI was seen buying dollars through state-run banks, thereby capping the appreciation of the rupee. Dealers, however, expect the rupee to strengthen in the coming year. "There is no reason for the rupee to weaken," said a dealer at a private bank. In forwards, the six-month premia closed at 1.62 per cent (1.72 per cent) and the 12-month closed at 1.28 per cent (1.27 per cent). - Our Bureau More Stories on : Forex
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