Business   

Mild rally in rupee

MUMBAI SEPT. 26. Overcoming month-end pressures, the Indian currency rallied mildly against the U.S. currency on Friday on the back of steady foreign fund inflows and helped partly by a lingering weak dollar overseas, arresting a three-session string of losses. In choppy two-way trade at the interbank foreign exchange market, the rupee closed at 45.85/86 a dollar, a paisa gain from Thursday's finish of 45.86/87 a dollar, following a smart rally from intraday lows of 45.87/88 a dollar after month-end dollar demand dragged it down. Meanwhile, the rupee opened on a firm note at 45.82/83 a dollar, which happens to be the best levels of the day. The rupee declined by over six paise yesterday, pulled down by heavy month-end dollar demand and export cancellations.

Although, the usual month-end pressures drove the rupee sharply lower to 45.86/87 a dollar, healthy trade and capital inflows helped the rupee bounce back smartly.

— PTI

Printer friendly page  
Send this article to Friends by E-Mail

Business

News: Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Obituary |

Stories in this Section

• RBI to evaluate new framework
• Efforts on to help tea industry
• Max India to sell stake in Max HealthScribe
• SAIL hopes to improve performance
• Tardy progress in oil sector reform
• Mild rally in rupee
• Sensex up 85 points
• Centre clarifies on textiles package
• AMD unveils Athlon 64 processors
• Lax network security curbing e-commerce
• West Bengal announces IT policy
• Futures trading in gold and silver
• Exchange rates
• Bullion rates
• Stock Market Index
• CII logistics summit
• Taj Palace Dubai gets good occupancy rate
• Lupin bags USFDA approval
• Promoters raise stake in D-Link
• GNFC's achievement

Copyright © 2003, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu