COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES

Rupee dips against dollar

The market opened nearly steady at Rs 39.76-77, due to marginal demand for funds it moved up to Rs 39.79 in intraday trading session before closing at Rs 39.77-78.

Dealers said that the State Bank of India made two-way transactions --- lower-level buying dollars and higher-level booking profits. A nominal amount of export and import booking was conducted on cash-to-spot basis while a marginal amount of export booking was done in the nearforward basis in the merchant section.

The six-month annualised premium was quoted at 6.48 per cent while the yearly premium was 7.26 per cent.

In the swaps section, the forward premiums also ruled almost steady. Cash/spot was quoted at 0.25 -0.75 and cash/tom at level to 0.25 paisa. The monthwise premium, in paise, were May 5-6 paise, June 18-20 paise, july 38-40 paise, August 58-61 paise, September 86-88, October 114-117 paise, November 140-143 paise, and December 169-172 paise.

The pound sterling was quoted at Rs 66.07, Deutsche mark at Rs 22.48 and yen at Rs 30.33 per 100.

The Reserve Bank of India has fixed the reference rate for US dollar at Rs 39.78 today.

UNI