The Hindu Business Line : Rupee weaker by 30 paise

The rupee depreciated by around 30 paise against the dollar on Friday, as the greenback strengthened in the overseas markets, said dealers. The domestic currency opened at 47.23/ 24 and strengthened to touch an intra-day high of 46.86/88. It touched an intra-day low of 47.30/35 before recovering marginally to close at 47.25/27, against the previous close of 46.93.

Fears of recession in the UK and expectation of a cut by the European Central Bank led to the dollar strengthening against the pound and the euro, said dealers. In the forward premia market, the 6-month closed at 3.26 per cent and the one year closed at 2.32 per cent.- Our Bureau

Related Stories:
Bond prices see huge rally; rupee gains 70 paise

More Stories on : Forex

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

Stories in this Section
Exporters doing business with Iran feeling the heat

Significant rise in rural banks’ profits

IRDA expects 10% drop in policy rates of pension, annuity plans

Insurers moving to corporate, bank bonds

NRI funds flow pushing rupee up against dollar

Rupee weaker by 30 paise

Banks consider cutting auto loan rates by next week

Allahabad Bank to hire 2,000 more

HDFC, LIC Housing follow banks, cut lending rates

Bond prices range-bound

Call rates tad lower

`Regulate work hours for officers'

No support for no-frills accounts, say bankers

New ED for Central Bank

Chanda Kochhar, ICICI Bank’s new chief