Saturday, 12 April 2008 17:00
|Rupee/US Dollar |
The American dollar remained the gainer versus the national currency in the kerb dealings amid demand of dollar was on the rise in the local market. The greenback commenced new week’s trading at Rs.63/40, continued to record gains and was changing hands at Rs.63/60 at close of markets on Saturday. Thus, rupee incurred another 0/20 paisas versus the greenback in the kerb. In the international market, The pace of the dollar's decline against the currencies of the U.S.'s major trading partners may slow after Group of Seven officials expressed concern about fluctuations in exchange rates, analysts said.
Euro crossed Rs.100/- mark versus rupee in the open market amid the single currency’s performance remained better in the international market. The Euro zone’s common currency commenced new day’s trading at Rs.99/50, recovered major grounds and changed hands at Rs.100/65 at close of markets. Thus, rupee ended the day on a negative note versus euro in the open market dealings. On the international desk, the euro closed in on this week's record high, supported in part by speculation that top financial officials from the Group of Seven rich nations may not make a coordinated effort to talk up the dollar when they meet later in the day.
|Source: KKI Research Department|
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