Business Daily from THE HINDU group of publications
Saturday, Oct 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Oct 20, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Money & Banking
-
Forex Rupee gains 4 paise Mumbai, Oct. 19 The rupee strengthened by four paise against the greenback on Friday on dollar selling by exporters. "The exporters were seen selling at all levels today which slightly strengthened the rupee," said a dealer with a private bank. Foreign exchange dealers said that the exporters would continue to sell, and this would prevent the rupee from weakening further. The home currency opened at 39.72/74 and saw an intraday high of 39.67 and a low of 39.86, before ending the day at 39.73/74, four paise up from the previous close of 39.77/78. Dealers also said that some major corporates were seen selling dollar today. "Had the corporates not been selling, the rupee would have weakened to 39.90-40 levels," said a dealer with a private bank. Market participants said that the rupee could witness some volatility next week. In forwards, the six-month premia closed at 0.90 per cent (1.09 per cent) and the 12-month closed at 0.86 per cent (0.96 per cent). - Our Bureau
More Stories on : Forex
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
|