« Forex » Open DEMAT Account in 24 hrs  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 rises on cash squeeze, stocks eyed... RBI`s double whammy makes India Inc see red... » Rupee appreciates by five paise to 42.91/92 a dollar June, 26th 2008 The Indian rupee today appreciated by five paise to 42.91/92 against the US currency in morning trade amidst a hike in the Cash Reserve Ratio and repo rate by the Central Bank yesterday. Indian equity market, however, fell sharply in early trade with its benchmark Sensex down by about 163 points at 1030 hrs, while Asian indices were mixed this morning. At the Interbank Foreign Exchange (forex) market, the local currency resumed marginally higher at 42.94/95 a dollar from its previous close of 42.96/97 a dollar and later moved up to 42.91/92 a dollar in late morning trade. Dealers said the Central Bank is suspected to be selling dollars to prevent any further fall in the rupee. The Reserve Bank's move, to raise the repo rate and the CRR by 50 basis points each last evening, which is expected to suck the liquidity by Rs 15,000-20,000 crore from the system, also helped the rupee to appreciate against dollar. Weakness in dollar in overseas markets was another factor worked in favour of the local currency, they added.