Business Daily from THE HINDU group of publications
Tuesday, Jan 06, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Jan 06, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Money & Banking
-
Forex Rupee closes marginally higher 
Mumbai, Jan. 5 The spot forex market was very volatile on Monday following the rate cut announced by the Reserve Bank of India. The rupee opened at 48.17/20 against the dollar and touched a low of 48.74/75 during the day. It closed at 48.53/56, marginally higher than Friday’s close of 48.58/60. There were not much dollar inflows in the morning, which led to the rupee weakening. Dollar inflows are likely to continue despite the cut in key interest rates, as rates in India are still higher. The rupee is likely to strengthen further as the economy revives, the dealer said. In the forwards market, the six-month premium closed at 2.4 per cent and the 12-month at 1.82 per cent.— Our Bureau Short-term consolidation in rupee Rupee seen ‘decoupling’ from other Asian currencies More Stories on : Forex
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, 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
|
