Business Daily from THE HINDU group of publications
Tuesday, Feb 26, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Feb 26, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Forex Rupee tad up in choppy trade Mumbai, Feb. 25 The spot rupee market saw choppy trade on Monday, as it moved in tandem with the Sensex. There was no genuine demand or supply and the rupee's movement was only due to trading, said dealers. The domestic currency opened at 39.99 and closed at 39.96/97, a tad higher than Friday's close of 40.06. The high during the day was 39.96 and the low was 40.06. According to a forex dealer with a private bank, the rupee's strength may not sustain tomorrow. "There could be oil-related buying as oil price has gone up today," the dealer said. The dollar was almost at the same level against other foreign currencies like the euro. In the forwards premia market, the six-month forward closed at 0.29 per cent (- 0.21 per cent) and the 12- month closed at 0.51 per cent (0.32 per cent). - Our Bureau
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