Business Daily from THE HINDU group of publications
Tuesday, Dec 04, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 04, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee gains 12 paise Mumbai, Dec. 3 The rupee strengthened by 12 paise against the greenback on Monday backed by good inflows into the domestic market. The home currency opened at 39.63 and closed at 39.50, up from the previous close of 39.62. "The RBI was not intervening in the forex market which aided the strengthening of the rupee," said a dealer at a private bank. Foreign exchange dealers expect the rupee to appreciate further and trade in the range of 39.40-39.45 this week. In forwards, the six-month premia closed at 1.17 per cent (1.03 per cent) and the 12-month closed at 0.95 per cent (0.85 per cent). - Our Bureau More Stories on : Forex
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