Advertisement

HindustanTimes Fri,18 Apr 2014

Rupee loses initial gains, up 10 paise to 54.37 vs dollar

PTI  Mumbai, December 10, 2012
First Published: 11:41 IST(10/12/2012) | Last Updated: 11:43 IST(10/12/2012)

In line with equity market, rupee failed to maintain initial gains against dollar, but was still quoted higher on Monday in late morning trade by 10 paise to 54.37 on selling of the American currency by banks and exporters amid foreign capital inflows in equity market.

Advertisement

The rupee resumed higher at 54.30 per dollar as against the last weekend's level of 54.47 at the Interbank Foreign Exchange (Forex) market and moved up further to 54.26 against the American currency.

However, it declined afterwards to 54.45 before quoting 54.37 per dollar at 1040 hours.

It hovered in a range of 54.26 and 54.45 per dollar during the morning deals.

Sustained capital inflows from foreign funds into equity market mainly boosted the rupee value against the dollar, a forex dealer said.

Foreign institutional investors (FIIs) bought shares worth a net Rs. 648.05 crore on Friday, as per provisional data from the stock exchange.

The Indian benchmark BSE-30 index, Sensex, resumed higher at 19,442.19 and moved up further to 19,478.01, but declined afterwards to 19,393.68 before quoting 19,431.43 points at 1050 hours, still showing a gain of 7.33 points, or 0.04%, from its last weekend's level.

In New York market, the dollar gained versus major currencies on Friday after data showed the US economy added more jobs than expected in November.

The euro came under independent pressure as expectations for interest-rate cuts increased.

Advertisement
more from Business

Rajat Gupta to surrender on June 17 in insider trading case

Gupta was convicted in June 2012 on securities fraud and conspiracy charges for having fed tips, from Goldman board meetings in the second half of 2008, to longtime friend Raj Rajaratnam, founder of the Galleon Group hedge fund firm.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved