ID :
54230
Tue, 04/07/2009 - 12:48
Auther :
Shortlink :
https://www.oananews.org//node/54230
The shortlink copeid
Rupee up by 30 paise to 50.04/05 vs dollar
Mumbai, Apr 6 (PTI) Continuing its rally for the third
day in succession, the Indian rupee Monday improved by another
30 paise to close at 50.04/05 against the greenback on
stronger equity markets amid expectations of increased capital
inflows.
However, dollar demand from oil refiners and short
coverings by exporters pared early smart gains.
In active trade at the Interbank Foreign Exchange (Forex)
market, the domestic unit resumed higher at 49.95/97 a dollar
from its previous close of 50.34/35 a dollar and later hit a
high of 49.88 on firm equity markets.
But, it fell to a low of 50.15 before concluding the day
at 50.04/05, still higher than the last close.
In the straight three-session rally, the rupee has
spurted by a total 114 paise or 2.23 per cent.
Dealers said the bullish stock markets raised optimism
about continued capital inflows into the equity markets. The
Indian benchmark Sensex Monday ended higher by 186.04 points
or 1.80 per cent while Asian indices also finished higher
between 0.48 per cent and 3.11 per cent.
The Sensex has gained nearly 967 points or 10.10 per cent
in four sessions of gains, mainly giving support to the rupee.
Meanwhile, global crude oil was trading near USD 53 a
barrel in Asian trade Monday.
The Reserve Bank of India, however, fixed the reference
rate for the dollar at Rs 50.00 and the euro at Rs 67.74.
The rupee premiums on the forward dollar ended further
lower on sustained receivings by exporters.
The benchmark six-month forward dollar premium payable in
September ended weak at 65-1/2-67-1/2 paise from 68-70 paise
on Thursday and far-forwards maturing in March also closed
lower at 105-1/2-107-1/2 paise from 107-109 paise previously.
In cross-currency trade, the rupee dropped against the
pound sterling and the euro and improved further against the
Japanese yen.
The domestic unit dipped further against the pound
sterling to end the day at Rs 74.63/65 from its last close of
Rs 73.75/77 and also declined against the euro to Rs
67.66/68 from last weekend's close of Rs 67.15/17.
It, however, strengthened against the Japanese yen to Rs
49.55/57 per 100 yen from the previous close of Rs 50.65/67.
NOTE: Forex and money markets will remain closed
Tuesday, April 7, on account of "Mahavir Jayanti".
day in succession, the Indian rupee Monday improved by another
30 paise to close at 50.04/05 against the greenback on
stronger equity markets amid expectations of increased capital
inflows.
However, dollar demand from oil refiners and short
coverings by exporters pared early smart gains.
In active trade at the Interbank Foreign Exchange (Forex)
market, the domestic unit resumed higher at 49.95/97 a dollar
from its previous close of 50.34/35 a dollar and later hit a
high of 49.88 on firm equity markets.
But, it fell to a low of 50.15 before concluding the day
at 50.04/05, still higher than the last close.
In the straight three-session rally, the rupee has
spurted by a total 114 paise or 2.23 per cent.
Dealers said the bullish stock markets raised optimism
about continued capital inflows into the equity markets. The
Indian benchmark Sensex Monday ended higher by 186.04 points
or 1.80 per cent while Asian indices also finished higher
between 0.48 per cent and 3.11 per cent.
The Sensex has gained nearly 967 points or 10.10 per cent
in four sessions of gains, mainly giving support to the rupee.
Meanwhile, global crude oil was trading near USD 53 a
barrel in Asian trade Monday.
The Reserve Bank of India, however, fixed the reference
rate for the dollar at Rs 50.00 and the euro at Rs 67.74.
The rupee premiums on the forward dollar ended further
lower on sustained receivings by exporters.
The benchmark six-month forward dollar premium payable in
September ended weak at 65-1/2-67-1/2 paise from 68-70 paise
on Thursday and far-forwards maturing in March also closed
lower at 105-1/2-107-1/2 paise from 107-109 paise previously.
In cross-currency trade, the rupee dropped against the
pound sterling and the euro and improved further against the
Japanese yen.
The domestic unit dipped further against the pound
sterling to end the day at Rs 74.63/65 from its last close of
Rs 73.75/77 and also declined against the euro to Rs
67.66/68 from last weekend's close of Rs 67.15/17.
It, however, strengthened against the Japanese yen to Rs
49.55/57 per 100 yen from the previous close of Rs 50.65/67.
NOTE: Forex and money markets will remain closed
Tuesday, April 7, on account of "Mahavir Jayanti".
