Business Daily from THE HINDU group of publications
Wednesday, Aug 06, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Aug 06, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Forex Rupee gains 24 paise Mumbai, Aug. 5 The rupee appreciated by 24 paise against the dollar on Tuesday due to gains in the stock market and oil prices falling below $120 per barrel. The currency opened higher at 42.36/38 and closed at 42.24/25, stronger than the previous close of 42.48/ 49. The 383-point upswing in the stock market and oil prices falling to $119 per barrel pulled the rupee up, said a dealer with a private bank. Another dealer said big corporate houses were also seen selling dollars that helped the domestic currency strengthen against the dollar. In the forward market, the 6-month premium closed substantially lower at 3.93 per cent (4.22) and the 12- month ended at 3.23 per cent (3.54). - Our Bureau
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