HindustanTimes Sun,20 Apr 2014

Rupee rules steady against dollar in late morning trade

PTI  Mumbai, November 27, 2012
First Published: 10:41 IST(27/11/2012) | Last Updated: 12:01 IST(27/11/2012)

The rupee failed to maintain initial gains against the American currency and was quoted steady at 55.72 per dollar in the late morning trade on renewed dollar demand from banks and importers.


The rupee resumed higher at 55.60 per dollar as against the on Monday's closing level of 55.73 per dollar at the Interbank Foreign Exchange (Forex) Market on selling of dollars by some banks on sustained foreign capital inflows into equity market.

However, it failed to maintain initial gains and was quoted at 55.72 per dollar at 1040 hrs on fresh month-end dollar demand from importers, mainly oil refiners.

It moved in a range of 55.58 per dollar and 55.73 per dollar during the morning deals.

In the Sydney market, the dollar declined in the early trade as euro zone finance ministers, the European Central Bank and the International Monetary Fund agreed on a plan to cut the Greece's government debt to 124% of gross domestic product by 2020 and to less than 110% of GDP by 2022, paving the way for the country to receive its next tranche of financial aid.

Meanwhile, the Sensex rose sharply by 236 points of 1.28% to 18,773.38 at 1100 hrs.

more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant

Finnish handset maker Nokia, struggling to shepherd its Chennai plant into its agreement to be bought by US software giant Microsoft amid tax disputes in India, has got some success with 736 of its trainees accepting the voluntary separation scheme.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved