ID :
120694
Fri, 05/07/2010 - 14:37
Auther :
Shortlink :
https://oananews.org//node/120694
The shortlink copeid
Rupee falls by 37 paise to 6-week low against dollar
LD RUPEE
Mumbai, May 6 (PTI) Continuing its downward march for the
fourth straight day Thursday, the rupee weakened by 37 paise
to a close at a six-week low on strong demand for dollar amid
falling stock markets.
The rupee ended at 45.30/31 per dollar, down by 37 paise
over the previous close.
In line with the weakness in local equities, the domestic
unit had opened sharply lower at 45.07/08 a dollar from
its last close of 44.93/94.
The bellwether Sensex ended lower by another 100.43
points, or 0.59 per cent.
Dealers said the hardening US currency in overseas market
and strong dollar demand weighed on the rupee, which had
dropped nearly 2 per cent in the last four days.
In London, the euro tumbled to a 14-month low against the
dollar today reeling from escalating concerns that Greece's
debt crisis may spread to other euro zone states.
European policymakers have warned the euro's survival
depends on a life-support package for Greece announced last
week. This has ratcheted up risk aversion and boosted
safe-haven demand for the dollar, pushing it to a more than
one-year high versus a currency basket Thursday.
Global crude oil prices were trading near USD 80 a barrel
in London Thursday.
The rupee premium for the forward dollar closed lower on
sustained receivings by exporters.
The benchmark six-month forward dollar premium payable in
October ended down at 56-58 paise from 63-1/2-65-1/2 paise on
Wednesday and far-forward maturing in April also finished
sharply lower at 110-112 paise from 126-128 paise previously.
The Reserve Bank of India fixed the reference rate for
the dollar at Rs 45.40 and for the euro at Rs 57.91.
In cross currency trade, the domestic currency dropped
further against the pound and the Japanese yen while firmed up
further against the euro.
The rupee declined against the pound to Rs 68.33/35 per
pound from Wednesday's close of Rs 67.97/99 and also slipped
further against the yen to Rs 48.22/24 per 100 yen from Rs
47.42/44 previously.
It, however, shot up further against the euro to Rs
57.70/72 per euro from its last close of Rs 58.06/08. PTI SBP
RDM
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Mumbai, May 6 (PTI) Continuing its downward march for the
fourth straight day Thursday, the rupee weakened by 37 paise
to a close at a six-week low on strong demand for dollar amid
falling stock markets.
The rupee ended at 45.30/31 per dollar, down by 37 paise
over the previous close.
In line with the weakness in local equities, the domestic
unit had opened sharply lower at 45.07/08 a dollar from
its last close of 44.93/94.
The bellwether Sensex ended lower by another 100.43
points, or 0.59 per cent.
Dealers said the hardening US currency in overseas market
and strong dollar demand weighed on the rupee, which had
dropped nearly 2 per cent in the last four days.
In London, the euro tumbled to a 14-month low against the
dollar today reeling from escalating concerns that Greece's
debt crisis may spread to other euro zone states.
European policymakers have warned the euro's survival
depends on a life-support package for Greece announced last
week. This has ratcheted up risk aversion and boosted
safe-haven demand for the dollar, pushing it to a more than
one-year high versus a currency basket Thursday.
Global crude oil prices were trading near USD 80 a barrel
in London Thursday.
The rupee premium for the forward dollar closed lower on
sustained receivings by exporters.
The benchmark six-month forward dollar premium payable in
October ended down at 56-58 paise from 63-1/2-65-1/2 paise on
Wednesday and far-forward maturing in April also finished
sharply lower at 110-112 paise from 126-128 paise previously.
The Reserve Bank of India fixed the reference rate for
the dollar at Rs 45.40 and for the euro at Rs 57.91.
In cross currency trade, the domestic currency dropped
further against the pound and the Japanese yen while firmed up
further against the euro.
The rupee declined against the pound to Rs 68.33/35 per
pound from Wednesday's close of Rs 67.97/99 and also slipped
further against the yen to Rs 48.22/24 per 100 yen from Rs
47.42/44 previously.
It, however, shot up further against the euro to Rs
57.70/72 per euro from its last close of Rs 58.06/08. PTI SBP
RDM
The information contained in this electronic message and any attachments to this
message are intended for the exclusive
use of the addressee(s) and may contain proprietary, confidential or privileged
information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately and destroy
all copies of this message and any attachments contained in it.
Delete & Prev | Delete & Next
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