Business Daily from THE HINDU group of publications
Friday, Dec 28, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Dec 28, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee stays unchanged Mumbai, Dec 27 The rupee was unchanged against the dollar as there was both demand and supply of dollars. The domestic currency opened at 39.41/43, fell to a low 39.445 and touched a high of 39.40. It closed the day at 39.41/42, unchanged from Wednesday's close. Dealers said that a large corporate was seen selling dollars through foreign banks. However, nationalised banks were seen buying dollars in the forex market, possibly on behalf of the RBI. "There was two-way movement today. If supply abates and month-demand for the dollar increases tomorrow, then we could see some weakening in the rupee," said a dealer at a private bank. In the forward market, the 6-month closed at 2.02 per cent (1.88) and the 12- month ended at 1.46 per cent (1.37). - Our Bureau More Stories on : Forex
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