Rupee edges up by over four paise

Rupee edges up by over four paise
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First Published: Thu, Jun 12 2008. 12 12 PM IST
Updated: Thu, Jun 12 2008. 12 12 PM IST
PTI
Mumbai: Rupee appreciated against dollar by over four paise to quote at 42.8150/8250 in morning trade on 12 June after the Reserve Bank hiked the repo rate by 0.25% to contain the inflation.
At the Interbank Foreign Exchange (Forex) market, the domestic currency resumed remarkably higher at 42.75/77 against 11 June’s close of 42.86/87 a dollar.
Dealers attributed the rise in rupee to the repo rate hike by RBI and selling by exporters at the higher levels.
However, weakness in equity markets pulled rupee down to quote at 42.8150/8250 in late morning deals.
There was some dollar demand from oil refiners as the global crude oil prices remained higher near $138 a barrel.
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First Published: Thu, Jun 12 2008. 12 12 PM IST
More Topics: Rupee | Dollar | Exchange Rate | RBI | Repo Rate |