News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Entertainment |
Advts:
Classifieds |
Employment |
Obituary |
Business
Rupee extends gains
MUMBAI,
JULY 2.
Overcoming temporary early blips on dollar demand from large oil majors, the rupee today ended with another three paise gain on the back of late exporter dollar sales and unwinding of dollar positions by banks ahead of a long holiday weekend in the U.S.
Extending the rally to the third straight session, the rupee closed at 45.87/89 a dollar, higher from Thursday's finish of 45.90/92 after dipping to the intraday low of 45.95/97 due to dollar demand from major offshore oil companies, dealers said.
The U.S. markets will remain closed on July 5 in lieu of Independence Day holiday on July 4, which falls on a Sunday.
The rupee opened on a firm note at 45.88/90, but came under pressure and fell to 45.95/97 around noon, following hectic dollar short covering by banks, on behalf of large offshore oil companies after global oil prices surged to over $38 a barrel. However, renewed exporter dollar sales in the afternoon, fuelled a fresh rally, leading to offloading of long dollar positions by banks ahead of the long weekend in the U.S., dealers said.
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 |
Entertainment |
Advts:
Classifieds |
Employment |
Obituary |
Updates:
Breaking News |
|
