The rupee today snapped out of the four-sessions of losing spree and recovered moderately by nine paise to close at Rs 45.22/23 against the US currency following late rebound in local equities amid a weaker dollar overseas.
Good dollar demand from importers, mainly oil refiners, after mid-session too supported the rupee's rise.
In a fairly active trade at the Interbank Foreign Exchange ( Forex) market, the local unit opened weak at Rs 45.44/45 a dollar from Tuesday's close of Rs 45.31/32/ a dollar. Yesterday, the market was closed for "Bakri-Id".
It later touched a fresh 2-month intra-day low of 45.58 in line with steep fall in equities where the benchmark Sensex was down by nearly 250 points in mid-morning trade.
But, the Indian currency recovered in the latter part of the day to log a high of 45.2075 before concluding at 45.22/23 on the back of smart rebound in stocks.
In the last four trading sessions, the rupee had depreciated by 101 paise or 2.27 per cent.
The Indian benchmark Sensex today ended up by 65.50 points or 0.33 per cent while all Asian indices too ended in the green, supporting the local unit.
Dollar was broadly trading low against its major rivals after announcement of subdued US inflation data on Wednesday following Federal Reserve's decision to ease the monetary policy by picking up billions of worth of treasury bonds.
The dollar index of six major currencies was down by 0.4 per cent in European market today.
Showing posts with label Rupee up 9 paise against dollar as stocks rise. Show all posts
Showing posts with label Rupee up 9 paise against dollar as stocks rise. Show all posts
Thursday, November 18, 2010
Rupee up 9 paise against dollar as stocks rise
The rupee today snapped out of the four-sessions of losing spree and recovered moderately by nine paise to close at Rs 45.22/23 against the US currency following late rebound in local equities amid a weaker dollar overseas.
Good dollar demand from importers, mainly oil refiners, after mid-session too supported the rupee's rise.
In a fairly active trade at the Interbank Foreign Exchange ( Forex) market, the local unit opened weak at Rs 45.44/45 a dollar from Tuesday's close of Rs 45.31/32/ a dollar. Yesterday, the market was closed for "Bakri-Id".
It later touched a fresh 2-month intra-day low of 45.58 in line with steep fall in equities where the benchmark Sensex was down by nearly 250 points in mid-morning trade.
But, the Indian currency recovered in the latter part of the day to log a high of 45.2075 before concluding at 45.22/23 on the back of smart rebound in stocks.
In the last four trading sessions, the rupee had depreciated by 101 paise or 2.27 per cent.
The Indian benchmark Sensex today ended up by 65.50 points or 0.33 per cent while all Asian indices too ended in the green, supporting the local unit.
Dollar was broadly trading low against its major rivals after announcement of subdued US inflation data on Wednesday following Federal Reserve's decision to ease the monetary policy by picking up billions of worth of treasury bonds.
The dollar index of six major currencies was down by 0.4 per cent in European market today.
Good dollar demand from importers, mainly oil refiners, after mid-session too supported the rupee's rise.
In a fairly active trade at the Interbank Foreign Exchange ( Forex) market, the local unit opened weak at Rs 45.44/45 a dollar from Tuesday's close of Rs 45.31/32/ a dollar. Yesterday, the market was closed for "Bakri-Id".
It later touched a fresh 2-month intra-day low of 45.58 in line with steep fall in equities where the benchmark Sensex was down by nearly 250 points in mid-morning trade.
But, the Indian currency recovered in the latter part of the day to log a high of 45.2075 before concluding at 45.22/23 on the back of smart rebound in stocks.
In the last four trading sessions, the rupee had depreciated by 101 paise or 2.27 per cent.
The Indian benchmark Sensex today ended up by 65.50 points or 0.33 per cent while all Asian indices too ended in the green, supporting the local unit.
Dollar was broadly trading low against its major rivals after announcement of subdued US inflation data on Wednesday following Federal Reserve's decision to ease the monetary policy by picking up billions of worth of treasury bonds.
The dollar index of six major currencies was down by 0.4 per cent in European market today.
Subscribe to:
Posts (Atom)