Business Daily from THE HINDU group of publications Friday, Apr 11, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee steady on dollar selling Mumbai, April 10 The rupee remained firm against the greenback on some dollar selling by exporters. The domestic currency opened at 39.98/ 99 and ended at 39.95/96, against the previous close at 39.99. Dealers said that the outlook for the rupee was positive as they expected dollar inflows in the market. The rupee was rangebound during the day as market participants were awaiting interest rate decisions from the European Central Bank and the Bank of England. "Globally, the dollar has been rangebound against the other major currencies pending the decision from the two central banks," said a dealer at a private bank. In the forward market, the 6- month premium closed at 2.13 per cent (2.17) and the 12-month ended at 1.59 per cent (1.57). - Our Bureau More Stories on : Forex
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