Money & Banking

Rupee down 12 paise against dollar

PTI Mumbai | Updated on April 18, 2011


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

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