Rupee ends 12 paise lower at 48.63
Date : Sep-11-2009 11:03
The rupee on Thursday lost 12 paise against the US currency after recording considerable gains in early trade in sync with stock markets, in the midst of dollar firming up in the overseas markets. While it is said that increased portfolio inflows improved the rupee sentiment in early stages whereas foreign institutional investors had pumped in $456.80 million on September 7 and 8.
However, the local currency closed lower by 12 paise at 48.63 a dollar in fairly active trade at the Interbank Foreign Exchange (Forex) market while the rupee had resumed strong at 48.41 per dollar from Wednesday''s close of 48.51 a dollar. Moreover, later, due to firm local equity markets in morning trade as the standard Sensex was up by over 251 points, it improved to a high of 48.29. On the other hand, a late sell-off in equities pushed the Sensex to close up by a meager 33.31 points, putting pressure on the rupee to touch a low of 48.66 a dollar.
Nevertheless, in cross-currency trade, the local unit responded downwards against the pound and the Japanese yen while moved down further against the Euro. While the rupee fell back against the pound to end at Rs 80.78 per pound from Wednesday''s close of Rs 80.08 and also dropped against the euro to Rs 70.80 per euro from Rs 70.36 previously. Moreover, it dipped further against the Japanese yen to Rs 52.82 per 100 yen from its last close of Rs 52.47.
Date : Sep-11-2009 11:03
The rupee on Thursday lost 12 paise against the US currency after recording considerable gains in early trade in sync with stock markets, in the midst of dollar firming up in the overseas markets. While it is said that increased portfolio inflows improved the rupee sentiment in early stages whereas foreign institutional investors had pumped in $456.80 million on September 7 and 8.
However, the local currency closed lower by 12 paise at 48.63 a dollar in fairly active trade at the Interbank Foreign Exchange (Forex) market while the rupee had resumed strong at 48.41 per dollar from Wednesday''s close of 48.51 a dollar. Moreover, later, due to firm local equity markets in morning trade as the standard Sensex was up by over 251 points, it improved to a high of 48.29. On the other hand, a late sell-off in equities pushed the Sensex to close up by a meager 33.31 points, putting pressure on the rupee to touch a low of 48.66 a dollar.
Nevertheless, in cross-currency trade, the local unit responded downwards against the pound and the Japanese yen while moved down further against the Euro. While the rupee fell back against the pound to end at Rs 80.78 per pound from Wednesday''s close of Rs 80.08 and also dropped against the euro to Rs 70.80 per euro from Rs 70.36 previously. Moreover, it dipped further against the Japanese yen to Rs 52.82 per 100 yen from its last close of Rs 52.47.
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