Business Daily from THE HINDU group of publications
Friday, Oct 13, 2006

Cross Currency

Group Sites

Money & Banking - Forex
Rupee gains against dollar

Our Bureau

Mumbai, Oct. 12

The rupee slightly appreciated against the dollar tracking gains on the BSE and easy crude oil prices. The domestic currency opened at 45.55/60 and dropped to close at 45.63. On Wednesday, the rupee closed at 45.65.

Dealers said the rupee opened strong but gave up on some of its gains during the day. Global crude prices eased to $57.50 while stock prices climbed steeply on the BSE and that prevented a substantial rupee depreciation, said a dealer.

"The Q2 results of companies are expected to be positive and will help the stock market stay bullish. In turn it could bring in more dollars for the rupee to appreciate to 45.50," said a dealer at a private bank. In the forwards, the 12 month premium was unchanged at 1.42 per cent and the 6 month ended 1.40 (1.44 per cent).

More Stories on : Forex

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

Stories in this Section
Tarapore Report II — Little light on deficit, gold

Rupee gains against dollar
SunTec banking tool
SBI exit policy for officers to close
Insurance Bill to lift FDI cap to 49 pc
Max NY launches Life Invest
IFFCO-Tokio to cover risks of infotech sector
IFC to buy HDFC Bank bonds
Karnataka Bank opens new branch
IFC picks up stake in Suguna Poultry for $11 m
RBI sets cut-off rate
Bond prices rise 16 paise
HDFC Bank in tie-up with AP postal dept
Call rates down at 6.35- 6.45 pc
Andhra Bank hikes deposit rates
Mandvi Co-op to merge with Saraswat Bank
PNB sees improved net profit in Q2

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | 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