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 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

Rupee trading weaker
June, 01st 2009

The rupee is trading weaker from Friday's close despite upswing in Asian stocks with dealers suggesting that RBI may be buying dollars to stem any further rise in the rupee. Dealers said the central bank intervened between 46.90 to 46.97 level on Monday.

"State run banks were seen buying dollars at around 46.90 levels, there a chance that it is intervention from RBI," says Dilip Raghuwanshi, forex advisor at Asit C mehta Forex. "However since the dollar is losing against all majors, there is a chance that the rupee will strengthen from hereon."

At 1 pm, the rupee was at 46.92, its strongest since May 22 and above its previous close of 47.11. The dollar lost ground on Monday and headed back to multi-month lows against the euro and sterling as investor appetite for higher-yielding assets continued to rise.

The ten -year bond bond traded largely unchanged at 6.70% at 1 pm.

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