ID :
88774
Tue, 11/10/2009 - 01:18
Auther :
Shortlink :
https://www.oananews.org//node/88774
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Rupee gains 35 paise to close at two-week high
Mumbai, Nov 9 (PTI) The Indian rupee Monday appreciated
by 35 paise to close at a two weeks high against the US
currency due to persistent selling pressure of dollar from
exporters and banks after weakness in the greenback in global
markets.
At the Interbank Foreign Exchange (forex), the domestic
currency closed at 46.45/46 a dollar, a gain of 35 paise
over the previous closing. It moved in a range of 46.36 and
46.65 during the day.
The rupee has gained by 95 paise or two per cent in last
four sessions.
Dealers said exporters sold dollars after the American
currency came under pressure in overseas markets.
The dollar weakened in overseas market after the G-20
meeting and US jobs data that did little to alter the view
that US interest rates that will stay low for some time,
offering investors little incentive to buy the currency.
The rupee also drew support from heavy FII inflows
into equity market in the last few months.
The Indian benchmark Sensex Monday advanced further by
340.44 points or 2.11 per cent after the Prime Minister said
on Sunday that his government would steadily pursue reforms to
feed economic growth, while withdrawing the fiscal stimulus by
next year.
Meanwhile, crude oil prices rose in London to USD 79 per
barrel.
The Reserve Bank of India fixed the reference rate for
the US dollar at Rs 46.58 and for the euro at Rs 69.58.
Rupee premiums on the forward dollar continued to rule
easy on sustained receiving by exporters.
The benchmark six-month forward dollar premium payable in
April ended down at 57-1/2-58-1/2 paise from 58-60 paise on
last Friday and far-forwards maturing in October also finished
lower at 120-1/2-121-1/2 paise from 121-1/2-123-1/2 paise
previously.
In cross-currency trade, the domestic currency declined
against the pound sterling and the Japanese yen but ruled
steady against the Euro.
The rupee moved down against the pound to finish at Rs
78.04/06 per pound from its last weekend's close of Rs
77.74/76 per pound while it closed steady against the Euro at
69.62/64.
The rupee eased against the Japanese yen to finish
at Rs 51.66/68 per 100 yen from its last close of Rs 51.64/66
per 100 yen. PTI RSU
ANU
by 35 paise to close at a two weeks high against the US
currency due to persistent selling pressure of dollar from
exporters and banks after weakness in the greenback in global
markets.
At the Interbank Foreign Exchange (forex), the domestic
currency closed at 46.45/46 a dollar, a gain of 35 paise
over the previous closing. It moved in a range of 46.36 and
46.65 during the day.
The rupee has gained by 95 paise or two per cent in last
four sessions.
Dealers said exporters sold dollars after the American
currency came under pressure in overseas markets.
The dollar weakened in overseas market after the G-20
meeting and US jobs data that did little to alter the view
that US interest rates that will stay low for some time,
offering investors little incentive to buy the currency.
The rupee also drew support from heavy FII inflows
into equity market in the last few months.
The Indian benchmark Sensex Monday advanced further by
340.44 points or 2.11 per cent after the Prime Minister said
on Sunday that his government would steadily pursue reforms to
feed economic growth, while withdrawing the fiscal stimulus by
next year.
Meanwhile, crude oil prices rose in London to USD 79 per
barrel.
The Reserve Bank of India fixed the reference rate for
the US dollar at Rs 46.58 and for the euro at Rs 69.58.
Rupee premiums on the forward dollar continued to rule
easy on sustained receiving by exporters.
The benchmark six-month forward dollar premium payable in
April ended down at 57-1/2-58-1/2 paise from 58-60 paise on
last Friday and far-forwards maturing in October also finished
lower at 120-1/2-121-1/2 paise from 121-1/2-123-1/2 paise
previously.
In cross-currency trade, the domestic currency declined
against the pound sterling and the Japanese yen but ruled
steady against the Euro.
The rupee moved down against the pound to finish at Rs
78.04/06 per pound from its last weekend's close of Rs
77.74/76 per pound while it closed steady against the Euro at
69.62/64.
The rupee eased against the Japanese yen to finish
at Rs 51.66/68 per 100 yen from its last close of Rs 51.64/66
per 100 yen. PTI RSU
ANU
