The rupee ended at 47.70/72 against the dollar after paring its early losses, cheaper by nine paise from its previous close due to fears of capital outflows as well as stronger US currency overseas. In active trade, the rupee resumed lower at 47.68/70 a dollar as against its last close of 47.61/62 a dollar. However, it later moved irregularly in a range of 47.68 and 48.00.
The US dollar surged ahead against major world currencies in Tokyo as the group of eight finance ministers met to discuss strategies to unwind policy measures taken in response to the economic crisis.
The Reserve Bank of India fixed the reference rate for the US dollar at Rs 47.94 and for the euro at Rs 66.60.
The benchmark six-month forward dollar premium payable in November eased further to 61-1/2-63-1/2 paise as against 63-65 paise on last Friday while the far-forwards maturing in May closed unchanged at 109-111 paise.
In cross-currency trade, the Indian rupee shot up against the pound sterling and the euro while declined against the Japanese yen.
Moreover, the rupee was up against the pound sterling to close at Rs 78.01/03 as against last close of Rs 78.10/12.
Also it firmed against the euro to Rs 66.09/11 from its previous close of Rs 66.63/65. However, the rupee eased against the Japanese yen to Rs 48.52/54 per 100 yen from its last close of Rs 48.48/50 per 100 yen.
The US dollar surged ahead against major world currencies in Tokyo as the group of eight finance ministers met to discuss strategies to unwind policy measures taken in response to the economic crisis.
The Reserve Bank of India fixed the reference rate for the US dollar at Rs 47.94 and for the euro at Rs 66.60.
The benchmark six-month forward dollar premium payable in November eased further to 61-1/2-63-1/2 paise as against 63-65 paise on last Friday while the far-forwards maturing in May closed unchanged at 109-111 paise.
In cross-currency trade, the Indian rupee shot up against the pound sterling and the euro while declined against the Japanese yen.
Moreover, the rupee was up against the pound sterling to close at Rs 78.01/03 as against last close of Rs 78.10/12.
Also it firmed against the euro to Rs 66.09/11 from its previous close of Rs 66.63/65. However, the rupee eased against the Japanese yen to Rs 48.52/54 per 100 yen from its last close of Rs 48.48/50 per 100 yen.
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