THE RUPEE: new year begins with firm note

03 Jan, 2012

Steady trend was again witnessed on the currency market on Monday as the rupee maintained its week-end level against the greenback, dealers said. The rupee gained seven paisa against dollar for buying at 89.93 and rose by six paisa for selling at 89.96, they said.
Reuters adds: Financial markets in Australia, China, Hong Kong, Japan, Malaysia, New Zealand, Singapore and Thailand were closed on Monday for a public holiday The Indian rupee fell in its first session of 2012 on demand from oil importers, though losses were limited by a turnaround in domestic stocks and dollar-selling by foreign banks.
Volumes were light in the dollar-rupee market as many investors chose to stay away in the absence of trading in major overseas markets, which were closed for the new year holiday. The rupee settled at 53.30/31 to the dollar, 0.4 percent down from Friday's close of 53.08/09, after dipping to 53.34 in early trade.



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Open Buying Rs 89.90
Open Selling Rs 90.10
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The rupee-pound parity remained unchanged amid low trading. The pound was purchased and sold at its last week closing of Rs 139.00 and Rs 139.50, respectively, dealers said.
The dollar opened at Rs 89 (buying) and Rs 89.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 89 (buying) and Rs 89.20 (selling).
Pound Sterling opened at Rs 138 (buying) and Rs 138.90 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 138 (buying) and Rs 138.90 (selling).

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