Business Daily from THE HINDU group of publications
Thursday, Apr 17, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Apr 17, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Forex Rupee steady against dollar Mumbai, April 16 The rupee remained steady against the dollar on Wednesday as demand for the greenback was balanced by supply. The domestic currency moved in a narrow range of two to three paise. It opened at 39.94/95 and ended the day at 39.96, unchanged from Tuesday's close at 39.96. Dealers said that while exporters were selling dollars there was demand from importers as well. "There was demand seen from oil importers prompted by the rise in the price of global crude to $114 per barrel," said a dealer at a private bank. Market participants expect the rupee to remain range-bound between 39.90 and 40-10. In the forward premia market, the 6-month closed at 2.41 per cent (2.22) and the 12-month at 1.77 per cent (1.65). - Our Bureau More Stories on : Forex
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