Advertisement

HindustanTimes Wed,20 Aug 2014

Rs fails to keep initial gains, drops 7 paise against $

PTI  Mumbai, June 26, 2012
First Published: 12:14 IST(26/6/2012) | Last Updated: 12:16 IST(26/6/2012)

The rupee failed to maintain initial gains and slipped 7 paise to 57.08 against the dollar on fresh demand for the American currency from banks and importers.

The dollar gained strength against other currencies as well in the overseas forex markets.

Advertisement

The rupee resumed stronger at 56.90 per dollar as against Monday's closing level of 57.01 at the Interbank Foreign Exchange (Forex) Market on selling of dollars by banks in view of some following some steps taken by the Reserve Bank.

However, it failed to maintain earlier gains and dropped to 57.08 per dollar at 1045 hrs after moving between 56.90 and 57.10 in the morning session.

In New York, the dollar strengthened against the euro and other major currencies.

Meanwhile, the BSE 30-scrip index, Sensex, moved in a narrow range and was trading eight points or 0.05% down at 1100 hrs.


Advertisement
more from Business

Ballmer steps down from Microsoft board

Former Microsoft CEO Steve Ballmer is stepping down from the company's board. Microsoft Corp. published Ballmer's resignation letter on its website Tuesday along with a response from current CEO Satya Nadella thanking him and wishing him well.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved