sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Forex »
 Perils of an ad hoc forex policy
 Rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade
 Rupee strengthened by 7 paise against dollar
 Rupee up by 4 paise against dollar in early trade
 Rupee falls by 18 paise at 4-week low against dollar
 Rupee drops on weak shares; inflation eyed
 Rupee raises 6 paise against dollar in early trade
 Rupee among most traded in futures market
 Indian rupee gain 12 paise against US dollar
 Rupee marginally rise up by 1 paise against US dollar
 Rupee drops tracking euro, choppy shares

Equity inflow steadies rupee as dollar up abroad
April, 17th 2009

The rupee was largely steady on Friday as rising foreign investment in a buoyant stock market was tempered by the dollar's strength against other major currencies overseas.

"There are mixed cues today so the rupee is largely steady, but the market is short rupee. There has been too much of dollar selling in the past few days; that should correct a bit," a senior dealer with a foreign bank said.

At 10:30 am, the partially convertible rupee was at 49.77/78 per dollar, unchanged from its Thursday's close, when it rose to as high as 49.34, its strongest since Feb 17.
The dealer said he expected the unit to trade in a broad 49.65 to 49.95 band.

The dollar index, a gauge of the US unit's performance against majors, was up 0.5 per cent.

Indian shares rose more than 2 per cent early, after snapping an eight-session rally in the previous day, with renewed confidence the global economic crisis is bottoming out boosting markets across Asia.

Foreigners have bought $1.4 billion worth of Indian shares since mid-March, a key factor that has helped the rupee rise nearly 5 percent from its record low of 52.2 hit on March 3.

Traders said they would be watching the central bank's policy review on Tuesday.

"Monetary policy has generally not had much impact on the rupee, but if there is a repo rate cut and if stocks rise, we could see a bit of appreciation in the rupee," the dealer at the foreign bank said.

Analysts are evenly split about whether the central bank would cut key policy rates to bolster growth.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions