Business Daily from THE HINDU group of publications
Tuesday, Oct 16, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Oct 16, 2007 ePaper |
|
|
|
|
|
|
|
Money & Banking
-
Forex RBI acts to check rupee gains Mumbai, Oct. 15 The rupee gained by about five paise to close at 39.3050/31 against the dollar on Monday, against Friday's close of 39.36/37. But intervention by the central bank restricted the gains, on a day marked by huge inflows, as the domestic equity index crossed levels of 19,000. The rupee opened higher at 39.33. For most of the day it was steady at levels of 39.3050, said dealers, thanks to RBI intervention. Forex dealers said that the Reserve Bank of India bought huge amounts of dollars through nationalised banks. "The rupee will appreciate only when the central bank moves out of the way," said the chief forex dealer with a private bank. The forward premia also increased with the six-month closing at 1.92 per cent (1.84 per cent) and the one-year at 1.53 per cent (1.39 per cent). - Our Bureau More Stories on : Forex | RBI & Other Central Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
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 © 2007, 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
|