• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Mumbai, Aug 13

The rupee depreciated by 27 paise against the greenback on Wednesday due to sustained demand for dollars from corporates. The currency opened weaker at 42.56/58 and fell further to touch an intra-day low 42.77/78. It closed at 42.64/65, against the previous close of 42.37/38. Dollar-buying by big corporate houses and the 119-point fall in the Sensex pulled the rupee down to its day’s low, said a dealer with a private bank. The rupee partially recovered after the two foreign banks were seen selling dollars, added the dealer. According to forex dealers, the global strengthening of the dollar against other major currencies is likely to adversely impact the rupee as well. In the forward market, the 6-month premium closed marginally lower at 4.20 per cent (4.26) and the 12-month ended at 3.36 per cent (3.40).

— Our Bureau

More Stories on : Forex

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line