Business Daily from THE HINDU group of publications
Friday, Aug 29, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Aug 29, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Forex Rupee marginally down Mumbai, Aug. 28 The rupee was range-bound against the dollar on Thursday and closed marginally lower from the previous close. Most traders were cautious, after having burnt their fingers in the earlier sessions which saw volatile movement. There was genuine buying interest on Thursday, said a forex dealer with a private bank. The rupee opened at 43.68/70 and touched a high of 43.65 before closing at 43.78/79, marginally lower from the previous close of 43.76. "As most participants had suffered losses in the last few sessions, the trade was dull today," said the dealer. Expectations that the Reserve Bank of India may step in to support the rupee also kept many traders away, the dealer added. In the forward premia market, the six-month premium closed at 2.93 per cent (3.14 per cent) and the 12-month closed at 2.71 per cent (2.55 per cent). - Our Bureau
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