ID :
136407
Fri, 08/06/2010 - 13:28
Auther :
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https://oananews.org//node/136407
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Rupee softens by 3 paise to 46.19/20 against US dollar
LD RUPEE
Mumbai, Aug 5 (PTI) The Indian rupee Thursday softened by
a 3 paise to 46.19/20 against the US dollar in lacklustre
trade at the Interbank Foreign Exchange market.
The rupee opened lower at 46.21/22 a dollar against its
previous close of 46.16/17 and dropped further to a low of
46.30 during intra-day trade.
However, sustained capital inflows amid late dollar
selling by exporters helped the rupee to recover most of its
early losses. It touched a high of 46.14 before ending the day
slightly lower at 46.19/20.
Forex dealers attributed the early fall in the rupee to
good dollar demand from importers and some corporates on the
back of a firm dollar overseas.
The dollar was mostly higher in Asia today after American
economic data beat the market's low expectations and triggered
some short-coverings, though the overall mood remained
bearish. The index of the dollar against six major currencies
was 0.1 percent higher.
In New York, the dollar gained against the euro and
Japanese yen yesterday after better-than-anticipated data on
the private payrolls and services industry dampened worries
about the US economy's growth.
Short-covering of dollar positions ahead of US non-farm
payrolls figures due on Friday also weighed on the rupee
initially.
The Indian benchmark Sensex ended down by 44.61 points or
0.24 per cent on fag-end selling today.
Meanwhile, food inflation declined to 9.53 per cent for
the week ended July 24 from 9.67 per cent in the previous
week.
Global crude oil was trading at around USD 82 a barrel in
London today.
The rupee premium for the forward dollar rose further on
sustained paying pressure from banks and corporates. The
benchmark six-month forward dollar premium payable in January
ended higher at 112-1/2-114 paise from 108-1/2-110-1/2 paise
on Wednesday and far-forward maturing in July also closed up
at 194-196 paise from 189-1/2-191-1/2 paise previously.
The Reserve Bank of India fixed the reference rate for
the dollar at Rs 46.23 and the euro at Rs 60.80.
In cross-currency trade, the domestic unit firmed up
against the pound sterling, the euro and the Japanese yen.
The rupee moved up against the pound sterling to end at
Rs 73.46/48 per pound from Wednesday's close of Rs 73.61/63.
It also gained against the euro at Rs 60.98/61.00 per euro
from Rs 61.05/07 previously.
The domestic currency also rose against the yen to
conclude at Rs 53.63/65 per 100 yen from its last close of Rs
54.01/03. PTI VMP
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Mumbai, Aug 5 (PTI) The Indian rupee Thursday softened by
a 3 paise to 46.19/20 against the US dollar in lacklustre
trade at the Interbank Foreign Exchange market.
The rupee opened lower at 46.21/22 a dollar against its
previous close of 46.16/17 and dropped further to a low of
46.30 during intra-day trade.
However, sustained capital inflows amid late dollar
selling by exporters helped the rupee to recover most of its
early losses. It touched a high of 46.14 before ending the day
slightly lower at 46.19/20.
Forex dealers attributed the early fall in the rupee to
good dollar demand from importers and some corporates on the
back of a firm dollar overseas.
The dollar was mostly higher in Asia today after American
economic data beat the market's low expectations and triggered
some short-coverings, though the overall mood remained
bearish. The index of the dollar against six major currencies
was 0.1 percent higher.
In New York, the dollar gained against the euro and
Japanese yen yesterday after better-than-anticipated data on
the private payrolls and services industry dampened worries
about the US economy's growth.
Short-covering of dollar positions ahead of US non-farm
payrolls figures due on Friday also weighed on the rupee
initially.
The Indian benchmark Sensex ended down by 44.61 points or
0.24 per cent on fag-end selling today.
Meanwhile, food inflation declined to 9.53 per cent for
the week ended July 24 from 9.67 per cent in the previous
week.
Global crude oil was trading at around USD 82 a barrel in
London today.
The rupee premium for the forward dollar rose further on
sustained paying pressure from banks and corporates. The
benchmark six-month forward dollar premium payable in January
ended higher at 112-1/2-114 paise from 108-1/2-110-1/2 paise
on Wednesday and far-forward maturing in July also closed up
at 194-196 paise from 189-1/2-191-1/2 paise previously.
The Reserve Bank of India fixed the reference rate for
the dollar at Rs 46.23 and the euro at Rs 60.80.
In cross-currency trade, the domestic unit firmed up
against the pound sterling, the euro and the Japanese yen.
The rupee moved up against the pound sterling to end at
Rs 73.46/48 per pound from Wednesday's close of Rs 73.61/63.
It also gained against the euro at Rs 60.98/61.00 per euro
from Rs 61.05/07 previously.
The domestic currency also rose against the yen to
conclude at Rs 53.63/65 per 100 yen from its last close of Rs
54.01/03. PTI VMP
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.
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