The rupee went up by almost 30 paise against the dollar on July 2 as it tracked the 700-point upswing in the domestic stock market. The local currency opened at 43.35/36 and rose during the day to end at 43.17, against the previous close at 43.47.
Dealers said that the rupee initially fell to 43.38 but recovered as the stock market started gaining. Market participants said that the rupee could range between 43.20 and 43.50 and would continue to track the stock market as well as the soaring global oil prices. In the forward market, the 6 month premium eased slightly to close at 4.94 per cent (5.47) and the 12 month ended at 4.24 per cent (4.57).
Dealers said that the rupee initially fell to 43.38 but recovered as the stock market started gaining. Market participants said that the rupee could range between 43.20 and 43.50 and would continue to track the stock market as well as the soaring global oil prices. In the forward market, the 6 month premium eased slightly to close at 4.94 per cent (5.47) and the 12 month ended at 4.24 per cent (4.57).
No comments:
Post a Comment