Business Daily from THE HINDU group of publications
Friday, Sep 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Sep 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Forex Rupee down marginally Mumbai, Sept. 18 The rupee depreciated marginally against the dollar on Thursday, pulled down by the meltdown in global indices. The domestic currency opened lower at 46.63/65, and weakened further to touch an intra-day low of 46.79. It recovered to close at 46.41/42, against the previous close of 46.34/35. Sustained dollar demand from oil companies and fall in most of the global indices pushed the rupee to its day’s low, said a dealer with a private bank. However, nationalised banks were selling dollars sharply at these levels, at the Reserve Bank of India’s behest. This helped the rupee recover its losses, added the dealer. In the global markets, the dollar slightly weakened against other major currencies. In the forward market, the 6-month premium closed lower at 0.63 per cent (1.34) and the 12-month ended at 0.63 per cent (1.18). — Our Bureau More Stories on : Forex
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