Business Daily from THE HINDU group of publications
Saturday, Jul 26, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Jul 26, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Forex Rupee down 11 paise 
Mumbai, July 25 The rupee depreciated by 11 paise against the dollar mainly due to losses in the stock market. The domestic currency opened weaker at 42.21/22 due to the fall in global indices. It touched an intra-day low of 42.35 and closed at 42.25/26, against the previous close of 42.14/15. A 500-point fall in the stock market pulled the rupee down, said a dealer with a private bank. The low-intensity blasts in Bangalore also adversely affected market sentiments dragging the rupee down, added the dealer. The rupee is expected to appreciate further in the next week and would be in a range of 41.80-42.30, said forex dealers. In the forward market, the 6-month premium closed higher at 4.75 per cent (4.63) and the 12-month ended at 3.92 per cent (3.90).— Our Bureau More Stories on : Forex
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