Business Daily from THE HINDU group of publications
Tuesday, Jan 15, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 15, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee flat against dollar Mumbai, Jan. 14 The rupee was flat against the dollar as the RBI continued to intervene in the spot market. The domestic currency opened and closed at the same levels of 39.28/29, which is almost unchanged from Friday's close of 39.29/30. Although there were huge dollar inflows, the RBI was using full strength to keep the rupee at these levels and prevent it from crossing 39, said a forex dealer with a private bank. "The spot rupee market is likely to see dull and rangebound trade for the next few days," he said. Overseas the dollar was weak against all other global currencies, but is not having any impact on the rupee, the dealer said. The forward premia were slightly on the higher side, with the six month closing at 1.94 per cent (1.9 per cent) and the 12-month at 1.61 per cent (1.54 per cent). - Our Bureau
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