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

Rupee at near 3-week high, stocks eyed
July, 14th 2008

The rupee climbed to near-three week highs on Monday as softer oil prices calmed concerns of a widening trade deficit, but weakness in the offshore market checked sharp gains.

At 9:49 a.m. (0419 GMT), the partially convertible rupee was at 42.81/82 per dollar, 0.14 percent stronger than Friday's close of 42.87/88. It hit a 15-month low of 43.50 early this month. "There has been dollar selling by some custodial banks but dollar/rupee should find support around 42.75 levels," said U. Venkatraman, head of treasury at Mumbai-based IDBI Bank.

Asian stocks edged up, the dollar gained and government bonds fell on Monday after Washington proposed an emergency plan to rescue the top US mortgage finance companies, offering to buy shares if necessary.

Oil was trading above $144 a barrel, below a record high of $147.27 hit on Friday. However, a weak local stock market weighed on sentiment. The benchmark index opened down more than a percent.

Foreigners have sold $6.8 billion worth of stocks so far this year after buying a record $17.4 billion in 2007. The rupee has dropped 8 percent so far this year, after gaining more than 12 percent in 2007. One-month offshore non-deliverable forward contracts were quoting around 43.08/43.18, weaker than the onshore rate.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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