Rupee Fall Down In Line By Means Of The Sensex - July 23, 2009

Following the equity markets, the rupee closed lower by 10 paise against the US currency. In fairly active trade at the Interbank Foreign Exchange market, the rupee resumed at 48.38/40 a dollar from previous close of 48.42/44 and improved further to a high of 48.25 on account of a smart rise of nearly 307 points in the morning deals.

The forex dealers said that there was selling pressures of dollars from the exporters in early trade as the US currency was lower in Asia in the morning after Federal Reserve Chairman Ben Bernanke expressed a cautious view about the US economy that helps the rupee to recover losses.

However, a sudden bout of selling in equities weighed on the rupee and it fell to 48.63 per dollar. Later it later settled at 48.52/53 a dollar. The rupee closed down by 22 paise on Tuesday.

Rupee Spurts By 52 Paise To 2 Week High Of 48.20 - July 21, 2009

The rupee appreciated sharply by 52 paise to close at a two-week high of 48.20/21 against the dollar on Tuesday due to the weakness of the US currency overseas and strong equity markets that powered the local unit to bounce-back. The US dollar fell to a six-week low in early trade on the London Exchange after equity markets surged on account of hopes of encouraging earnings.

In fairly active trade at the Interbank Foreign Exchange (forex) market, the rupee moved in a range of 48.18 and 48.56 after resuming stronger at 48.52/54 a dollar from its previous close of 48.72/73.

The rupee rallied to touch a two-week high of 48.18 in afternoon trade by cutting short a two-day losing streak, as the dollar slipped sharply against the euro.

The dealers said that buoyant equity markets also supported the rupee, raising the expectations of increased capital inflows in the second half of the calendar year. Moreover, the fresh signs of recovery in the economy also aided rupee sentiment.

Rupee Split Ends Lower By The Side Of 47.74 - June 17, 2009

The Indian rupee recovered part of its early losses but still closed weaker by four paise at 47.74/75 against the US dollar on Tuesday amid a bounce-back in local stocks and the dollar''s retreat overseas. The rupee touched the intra-day low of 47.96 on the back of fall in the equity markets sharply in early trade, inducing fears of capital outflows.

At the Interbank Foreign Exchange (forex) market, the rupee moved in a range of 47.71 and 47.96 in the day after resuming lower at 47.95/96 a dollar against its previous close of 47.70/72 a dollar.

The Reserve Bank of India fixed the reference rate for the US dollar at Rs 47.76 while for euro at Rs 66.13.

Moreover, the benchmark six-month forward dollar premium payable in November shot up to 63-65 paise from 61-1/2-63-1/2 paise on Monday and the far-forwards maturing in May also closed higher at 112-1/2-114-1/2 paise from 109-111 paise previously.

Rupee inches up to 42.88 against US dollar - June 18, 2008

The US dollar ended cheaper against the rupee at Rs 42.89/90 per dollar at the close of the Interbank Foreign Exchange (Forex) market in Mumbai on June 17. The rupee showed signs of improvement in the morning trade on Tuesday, rising by about four paise to 42.91/92 against the US currency amid steady equity markets.

The activity was dull at the exchange market in the absence of any market moving factors, dealers said. Meanwhile, the Reserve Bank of India (RBI) fixed the reference rate for US dollar at Rs 42.92 and for single European unit at Rs 66.66. The rupee premiums on forward dollar continued its slide for another day and ended sharply down due to sustained receivings by exporters. The benchmark six-month forward dollar premium payable in November ended at 46-1/2 - 48-1/2 paise, lower from 57 - 59 paise on Monday and the far-forward maturing in May closed down at 92 - 94 paise from 106 - 108 paise previously.

In cross currency trades, the rupee also turned stronger against the British Sterling and improved against the Japanese yen. It, however, held steady against the Euro.The domestic currency bounced back with a vengeance against the pound sterling and ended higher at Rs 83.55/57 per pound from its previous close of Rs 84.29/31 per pound and also turned dearer against the Japanese Yen to Rs 39.64/66 per 100 yen from its last close of Rs 39.68/70 per 100 yen.