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Rupee eases on dollar’s rise overseas, stocks

Rupee eases on dollar’s rise overseas, stocks
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First Published: Thu, Mar 18 2010. 02 51 PM IST
Updated: Thu, Mar 18 2010. 02 51 PM IST
Mumbai: The Indian rupee fell on Thursday, tracking the dollar’s fall overseas and choppy local share prices.
At 3:05pm, the partially convertible rupee was at Rs45.4850/4950 per dollar, off an intraday low of Rs45.5350 and weaker than Rs45.34/35 at close on Wednesday when it rose to Rs45.3325, its strongest since 11 January.
The euro fell against the dollar after a newswire report said Greece is not hopeful of receiving aid from other euro zone members to resolve its debt problems.
The benchmark BSE share index see sawed, on investor resistance after having gained more than 6% so far in March.
One-month offshore non-deliverable forward contracts were quoted at 45.58/60, weaker than the onshore spot rate.
In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were both quoting at 45.5350.
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First Published: Thu, Mar 18 2010. 02 51 PM IST
More Topics: Markets | India | Rupee | Currency | Dollar |