The Indian rupee on July 28 fell by four paise against the dollar on account of month-end demand for the US currency as well as weakness in local equity markets. At the Interbank Foreign Exchange market, the rupee resumed lower at 48.23/24 a dollar from its overnight close of Rs 48.16/17 a dollar. The forex dealers said that importers, mainly oil refiners, were seen purchasing dollars for their month-end import payments putting some pressure on the rupee.
The rupee later moved in a range of 48.13 and 48.3050 a dollar before closing at 48.20/21. The Indian benchmark Sensex ended lower by 43.10 points or 0.28 per cent.
Moreover, the dealers further added that the investors remained sidelined ahead of the announcement of the RBI''s quarterly monetary policy review.
But after the announcement, the dealers termed it a non-event as the Central bank kept the key interest rates unchanged and increased the inflation forecast to five per cent by end March 2010 from earlier four per cent.
The rupee later moved in a range of 48.13 and 48.3050 a dollar before closing at 48.20/21. The Indian benchmark Sensex ended lower by 43.10 points or 0.28 per cent.
Moreover, the dealers further added that the investors remained sidelined ahead of the announcement of the RBI''s quarterly monetary policy review.
But after the announcement, the dealers termed it a non-event as the Central bank kept the key interest rates unchanged and increased the inflation forecast to five per cent by end March 2010 from earlier four per cent.
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