Presented by : KabirSandhu Weekend News from 7th, oct. 2010 to 10th ,oct. 2010
Rupee falls most in the month of intervention risk, imports The rupee fell the most in a month on concern importers will step up dollar purchases and RBI may intervene following a rally that’s made the currency Asia’s best performer of the past month. The rupee declined 0.5% to 44.4350 per dollar at the close of trade in Mumbai. It indicate that the rupee will trade at 44.97 to the dollar in three months, compared with expectations of 44.75 on Thursday and 45.09 at the end of last week.
The rupee today fell sharply by 23 paise to close at 44.42/43 against the US currency on fresh dollar buying by banks and importers amid weak equity markets. At the Interbank Foreign Exchange market, the domestic unit opened weak at 44.30/31 a dollar from its last close of 44.19/20. The Reserve Bank of India has fixed the reference rate for the dollar at Rs 44.38 and the euro at Rs 61.80. Rupee falls by 23 paise Vs dollar on weak equities
The rupee appreciated by 16 paise to Rs 44.33 against the US dollar at the Interbank Foreign Exchange market in the morning trade today on sustained FII inflows into equity markets . the Bombay Stock Exchange index Sensex rose by 38.21 points to 20,581.29 level in the opening trade. The rupee had ended 19 paise higher at Rs 44.49/50 against the US currency in the previous session on dollars selling by banks and exporters Rupee appreciates by 16 paise against dollar in early trade