Business Daily from THE HINDU group of publications
Wednesday, Jun 18, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jun 18, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Forex Rupee rises marginally 
Mumbai, June 17 The rupee rose slightly against the dollar on Tuesday tracking the upswing in the domestic stock market. The domestic currency opened at 42.92/93 and touched an intra-day high of 42.86. It then fell to 42.91/92 and closed at 42.88/89, against the previous close at 42.95/96. Forex dealers said that foreign banks were seen selling dollars for most part of the day. “These banks were taking advantage of the arbitrage opportunity in the non –deliverable forward mark et. Traders were buying in the NDF market and selling it here,” said a dealer at a private bank. The one-month delivery rupee in the NDF market ended trade at 42.93. In the forward market, the 6-month premium closed at 2.40 per cent (2.95) and the 12-month ended at 2.27 per cent (2.60).— Our Bureau More Stories on : Forex
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