Business   

Rupee up by another five paise against $

MUMBAI: Extending its gains for the third day in a row, the rupee appreciated by another five paise on Friday at 42.76/77 against the greenback on the back of a smart rally in stock markets and falling crude rates.

At the interbank foreign exchange market, the rupee resumed higher at 42.67/70 a dollar against Thursday’s close of 42.81/82.

Crediting early rise in the rupee value to firm equity markets, forex dealers said sustained fall in global crude oil prices also boosted rupee sentiment. World crude oil prices, a key driver of the rupee, dropped further on worries over economic growth and slowing demand and were quoting just above $ 131 a barrel in Asian trade.

The rupee, later, fell back to settle the day at 42.76/77 a dollar, higher than overnight close by five paise. It touched a low of 42.87 during the day. . — PTI

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

Stories in this Section

Wipro posts 25% rise in net
Satyam’s net jumps 45% at Rs. 548 cr.
High input costs impact UltraTech’s first quarter performance
ICML readying for world car launch
Gujarat NRE Coke plans unit in A.P.
SAIL issues advisory to hold steel prices
Citi’s second quarter loss at $2.5 billion
Intel celebrates 40 years of innovation
Rabobank launches Private Equity fund
IBM launches phase II Project Big Green
Vishal Information to expand operations
Rupee up by another five paise against $
Scorpio V series launched
Wipro launches Sweet ‘N’ Healthy
NAPCL launches coconut-based beverages
Tata Teleservices to expand
Tata Sky signs pact with schools
Exchange Rates
Bullion Rates
R. V. Rajan re-elected as President of RMAAI
Boeing’s Communications Director for India
Yatra.com plans further expansion
Philips patient monitors launched
Everonn Systems posts higher revenue, profit
UST Global signs 5-year contract with Dana
Chennai Petroleum net doubles in Q1
Cipla posts higher profit

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu