Business Daily from THE HINDU group of publications
Friday, Sep 01, 2006

Cross Currency

Group Sites

Money & Banking - Forex
Rupee weakens marginally

Our Bureau

Mumbai, Aug 31

The rupee weakened against the dollar, after closing flat for two days. The home currency opened weak at 46.54/55, in line with the yen against the dollar, touched an intra-day low of 46.55 and ended 46.53/54. On Wednesday, the rupee closed at 46.50/51. "Speculations about a possible pause in the interest rate hike in Japan weakened the yen against the dollar and euro," said a dealer at a private bank. "The home currency tracked the movement of yen," he added. Dealers saw oil companies buying dollars during the day, which pushed the rupee to 46.55. The next move of the rupee will depend on the US non-farm payroll data, to be released in the evening, he said. In the forwards, the six-month premium ended at 1.42 per cent (1.39 per cent) and the 12-month premium at 1.38 per cent (1.35 per cent).

More Stories on : Forex

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

Stories in this Section
Ram Info bags grameena bank order

Life begins at fifty
Notice mandatory before initiating prosecution for cheque bounce: HC
Rupee weakens marginally
BoR, SBI tie up for ATM sharing
Bond prices rally on SLR statements
Aviva to transfer 5,000 BPO vendor staff to offshore unit
Kerala Govt to form core panel with banks to revive PSUs
What RBI statistics say about NPAs
Banks reject SPIC proposals for debt revamp
SBI loan disbursal
Call rates steady
UBI to bundle insurance with tax-saving deposit scheme
Dena Bank hikes term deposit rates

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, 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