COMMENTARY
INTERVIEW
SPECIALS
CHAT
ARCHIVES

Quiet trading at forex market

The rupee appreciated marginally against the United States dollar in a lacklustre and quiet trading at the interbank foreign exchange (forex) market on Tuesday.

The rupee opened at Rs 36.47/48 and weakened to Rs 36.49/50. The Indian currency, however, recovered at the fag end of the day to close at the same levels as the day's opening.

Leading forex dealers said that corporate demand was present in Tuesday's trading, but adequate supply neutralised the rupee's fall against the dollar.

The Reserve Bank of India was absent from the market on Tuesday, they added.

Cash spot closed at 1.00-1.25 paise premium while tom spot ended at 0.25-0.50 paisa premium.

The monthly forwards (in paise) were 8-11 for September, 27-30 paise for October, 48-51 for November, 68-71 for December, 89-92 for January, 104-107 for February, 123-126 for March, and 145-148 for April.

The British pound opened at Rs 58.40 and closed at Rs 58.20 against the rupee. The Deutsche mark ended at Rs 20.56 while the Japanese yen at Rs 30.27 (per 100 yen).

In overseas trading, the pound and mark weakened against the dollar while the yen moved in a thin range, dealers said.

Elsewhere, the RBI fixed the reference rate at Rs 36.49 per dollar against the previous close of Rs 36.46.

UNI