Money & Banking

Rupee down 12 paise against dollar

PTI Mumbai | Updated on April 18, 2011

newRe.eps

The rupee on Monday slipped 12 paise to end at 44.45/46 against the US currency due to fag-end dollar demand on the back of a weak equity market. The rupee moved in a range of 44.25 and 44.46 during the day. Dealers said that the rupee failed to maintain its initial gains and declined due to tail-end dollar demand from banks and importers amid weak domestic equities.

The Bombay Stock Exchange benchmark Sensex fell sharply by 295.65 points or 1.53 per cent to finish at 19,091.17. . The rupee premium for the forward dollar closed steady to better on stray paying pressure from banks and corporates. The benchmark six-month forward dollar premium payable in September finished stable at 148-150 paise. Far-forward contracts maturing in March, however, edged up to 302-304 paise from 300-302 paise previously.

The RBI has fixed the reference rate for the dollar at Rs 44.27 and the euro at Rs 63.66. The rupee moved up to Rs 72.34/36 against the pound sterling from last Friday's close of Rs 72.47/49, while shot up further against the euro to end at Rs 63.50/52 from Rs 64.12/14 previously. It, however, remained weak against the Japanese yen to Rs 53.66/68 per 100 yen from its last close of Rs 53.28/30.

Published on April 18, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor