Rupee ends at 43.1250 and stayed firm because banks sold dollars tracking fall in offshore non-deliverable forward rate Banks also sold dollars expecting inflows from foreign funds as local shares extended gains Dollar eased as oil prices rebounded, after geopolitical tensions were pushed back onto investors' radar by news of Iran test-firing missiles and of an armed attack on the U.S. consulate in Turkey. Euro falls against majors amid Euro-Zone GDP data and on European Central Bank President comments that it is important for the U.S. to keep repeating support for a strong currency. British pound lower against the US dollar despite modest rebound in house prices the business confidence continues to suffer. Visible Trade Balance remained essentially unchanged at –7.5 Billion .Greenback was little changed at 107.43 yen. Aussie dollar lost ground after a drop in consumer confidence and following a report showing a biggest fall in demand for home mortgages
Wednesday, July 9, 2008
EVENING REPORT-JUL 09
Rupee ends at 43.1250 and stayed firm because banks sold dollars tracking fall in offshore non-deliverable forward rate Banks also sold dollars expecting inflows from foreign funds as local shares extended gains Dollar eased as oil prices rebounded, after geopolitical tensions were pushed back onto investors' radar by news of Iran test-firing missiles and of an armed attack on the U.S. consulate in Turkey. Euro falls against majors amid Euro-Zone GDP data and on European Central Bank President comments that it is important for the U.S. to keep repeating support for a strong currency. British pound lower against the US dollar despite modest rebound in house prices the business confidence continues to suffer. Visible Trade Balance remained essentially unchanged at –7.5 Billion .Greenback was little changed at 107.43 yen. Aussie dollar lost ground after a drop in consumer confidence and following a report showing a biggest fall in demand for home mortgages
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