Thursday, Jan 29, 2004
Thursday, Jan 29, 2004 |
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MUMBAI, JAN. 28. The rupee gained marginal ground against the U.S. currency today on light exporter dollar sales in yet another session of extremely quiet and shallow trading at the interbank foreign exchange market, as operators braced up for the customary month-end pressures tomorrow. The domestic unit ended at 45.3400/3450 a dollar, one paisa gain from the overnight closing of 45.3500/3550 after trading in a tight band of 45.3300 and 45.3600 in directionless trading. It opened on a steady note at 45.3450/3550. Despite sporadic dollar demand from public sector banks, the rupee managed to post mild gains on the back of exporter dollar sales. However, the forex spot trading remained quiet and within narrow grooves due to lack of market-moving factors, dealers said. The rupee could come under pressure tomorrow because of the usual month-end considerations, they added. — PTI
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