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 Perils of an ad hoc forex policy
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Rupee raises 6 paise against dollar in early trade
January, 13th 2011

The Rupee appreciated by 6 paise to Rs 45.07 a dollar at the Interbank Foreign Exchange market today, boosted by the greenback's weakness against euro and other major currencies.

Forex dealers said dollar's weakness against other major currencies kept the rupee's sentiment firm. However, lower opening at the stock markets capped its gains.

The rupee had yesterday closed 3 paise up to a nearly one-week high of Rs 45.13/14 a dollar on sustained US currency selling by some banks exporters.

Meanwhile, the Bombay Stock Exchange index Sensex was down by 116.95 points to 19,417.15 points in the opening trade today.

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