• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Mumbai, Aug 14

The rupee depreciated by 37 paise against the greenback on Friday, as sustained dollar buying caused the home currency to breach the psychological 43-mark. The domestic currency opened lower at 42.85/86 and fell further to cross the 43-mark. It closed at 43.01, against the previous close of 42.64/65. Sustained dollar buying by corporates, a 368-point fall in the Sensex and the oil prices rising to $116 a barrel pulled the rupee down, said a dealer with a private bank. Acc ording to Mr K Harihar, Treasury Head, Development Credit Bank, the dollar has been strengthening globally against other major currencies on indications of a slowdown in non-US economies. Forex dealers said the rupee’s movement would be largely impacted by oil prices. They predict the rupee to be in the range of 43.20-43.30 next week. In the forward market, the 6-month premium closed at 4.16 per cent (4.20 per cent) and the 12-month ended at 3.36 per cent (3.36 per cent).

— Our Bureau

More Stories on : Forex

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line