MUMBAI: The rupee today ended slightly up at 39.2950/3050 against the greenback on fairly heavy capital inflows amid weakess in equity markets and some dollar demand from banks.
The local currency drew support from strong portfolio inflows through the IPO route. Reliance Power initial public offer fetched nearly USD 1.0 billion this week.
In fairly active trade at the Interbank Foreign Exchange (forex) market, the rupee resumed weak at 39.35/37 a dollar and later moved in a range of 39.27 and 39.37 during the day against its Thursday's close of 39.3050/3150 a dollar.
Banks bought dollar due to reporting Friday today, forex dealers said adding "they absorbed part of dollar sales by traders at initial stages".
Initial dollar sales was triggered by indications that the US central bank was willing to cut the benchmark Fed funds rate aggressively this month, commented a dealer.
The US unit was near two-year low against Japanese yen in overseas markets.
Easing global crude oil prices and fears of a possible recession in the US also aided the rupee sentiment.
Meanwhile, Asian indices, which traded in red during the day, later ended with moderate gains. The Indian benchmark Sensex, however, plunged by 687 points or 3.5 per cent due to heavy FII pullout.
The central bank, which was very active in the past few days, remained sidelined during the day, traders said.
Foreign Institutional Investors (FIIs) withdrawals were amounted to about USD 1.0 billion in the current week.
The local currency drew support from strong portfolio inflows through the IPO route. Reliance Power initial public offer fetched nearly USD 1.0 billion this week.
In fairly active trade at the Interbank Foreign Exchange (forex) market, the rupee resumed weak at 39.35/37 a dollar and later moved in a range of 39.27 and 39.37 during the day against its Thursday's close of 39.3050/3150 a dollar.
Banks bought dollar due to reporting Friday today, forex dealers said adding "they absorbed part of dollar sales by traders at initial stages".
Initial dollar sales was triggered by indications that the US central bank was willing to cut the benchmark Fed funds rate aggressively this month, commented a dealer.
The US unit was near two-year low against Japanese yen in overseas markets.
Easing global crude oil prices and fears of a possible recession in the US also aided the rupee sentiment.
Meanwhile, Asian indices, which traded in red during the day, later ended with moderate gains. The Indian benchmark Sensex, however, plunged by 687 points or 3.5 per cent due to heavy FII pullout.
The central bank, which was very active in the past few days, remained sidelined during the day, traders said.
Foreign Institutional Investors (FIIs) withdrawals were amounted to about USD 1.0 billion in the current week.
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