Business Daily from THE HINDU group of publications
Saturday, Dec 29, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Dec 29, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee weakens on global trends Mumbai, Dec 28 The rupee slightly weakened against the dollar, tracking the weakness in other global stock markets. The domestic currency opened at 39.46/48 and closed at 39.42/43, against the previous close at 39.41/ 42. Dealers said the rupee opened weak on global cues but partially recovered during the day. The weakness of stock markets globally was however not reflected in the domestic stock market. "There was good supply of dollars as banks were continuously selling. But nationalised banks were again seen buying the greenback possibly on behalf of the RBI," said a dealer at a private bank. In the forwards market, the 6-month premium closed at 1.72 (2.02) and the 12-month ended at 1.27 per cent (1.46). - Our Bureau
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