Indian rupee steady against Dollar

Indian rupee steady against Dollar
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First Published: Mon, Aug 25 2008. 09 49 AM IST
Updated: Mon, Aug 25 2008. 09 49 AM IST
Reuters
Mumbai: The Indian rupee was mostly unchanged on Monday as the dollar’s strength against some currencies was offset by lower oil and firmer Asian stock markets.
At 9:12 a.m, the partially convertible unit was at 43.46/47 per dollar, a shade weaker than 43.425/435 per dollar on Friday. It hit a 17-month low of 43.87 earlier in the week.
Oil, India’s biggest import, extended losses and was trading just above $114 a barrel after falling 5.4% on Friday.
The US dollar rose broadly on Monday, hitting a two-year high against sterling, as tumbling oil and gold prices left investors scurrying to buy back the currency and sparked a rebound in Asian stocks.
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First Published: Mon, Aug 25 2008. 09 49 AM IST
More Topics: Markets | India | Rupee | Dollar | Currency |