Business   

Rupee breaches 45 barrier

MUMBAI, JUNE 9. Sustained robust trade and foreign capital investment inflows drove the rupee to new one-month closing high of 44.98/99 a dollar today even as steady dollar demand from State-run banks contained sharp gains after it touched a peak of 44.92/94 in early deals.

In fairly active trading at the interbank foreign exchange market, the rupee gained another 4-1/2 paise from Tuesday's close of 45.0250/0350 and extended the smart rally to the eighth consecutive session, despite sporadic demand from public sector banks limiting its gains. Breaching the key resistance 45 a dollar level from the onset of business, the rupee opened distinctly firm at 44.99/45.01 and hit the day's peak of 44.92/94 in late morning trade, driven-up by healthy trade and foreign fund inflows amidst falling global oil prices.

The RBI fixed the reference rate for the U.S. currency at Rs. 44.98 and for the single European unit at Rs. 55.05.

PTI

Printer friendly page  
Send this article to Friends by E-Mail

Business

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Obituary | Updates: Breaking News |

Stories in this Section

• 'Smart-shoring' is the new buzzword
• Playing IT low key
• Reliance Energy to buy-back shares
• Sensex remains firm
• Pantaloon Food Bazaar's ambitious plans
• Fixed-line service providers fail to meet standards
• RBS Home Appliances to expand
• CAG indicts Maharashtra Government
• Railway units fare well
• Rupee breaches 45 barrier
• Bullion rates
• Exchange rates
• 1:1 bonus from TI
• RBI nod for IOB final dividend
• Salem Steel makes profit
• Coke's executive to step down
• Blackwill award for Tarun Das
• Sierra Atlantic's software services
• HDFC Bank offers finance for Maruti 800
• Allianz Bajaj premium income up
• Netkraft achieves CMMI Level 5
• Surge in Indian tourist to Malaysia
• Vintron ties up with U.S. firm
• ISO certification for Honda dealers
• Corporation Bank signs MoU with SAME

Copyright © 2004, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu