| Date: |
04-08-2011 |
| Subject: |
Rupee Slightly Down On Oil Buying, Dollar Gains |
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MUMBAI: The Indian rupee was a tad weaker in early trades on Thursday weighed by persistent dollar demand by oil importers and overseas gains in the greenback.
* At 9:25 a.m., the partially convertible rupee was at 44.3425/3450 per dollar, compared with Wednesday's close of 44.31/32.
* The dollar rose above 79 yen for the first time in two weeks on Thursday as the Bank of Japan intervened in the currency market intermittently to stem the yen's strength.
* Traders expect the rupee to trade in a tight band of 44.30-44.40.
* Positive local shares is likely to prevented a sharper fall in the rupee, dealers said.
* Indian shares rose 0.3 per cent in early deals.
Source : economictimes.indiatimes.com
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