Rupee ends stable

PRESS TRUST OF INDIA

Mumbai, Oct 15: The rupee on Friday breached the 44 level to touch a fresh 25-month high but closed stable at 44.10/11 against the US currency.  At the Interbank Foreign Exchange (Forex) market, the local unit opened lower at 44.22/23 a dollar from its previous close of 44.10/11 and touched the day's low of 44.25.  Dealers attributed initial fall in the rupee to dollar demand from some banks and importers.  But the rupee later bounced back to a fresh 25-1/2-month high of 43.97 on sustained capital inflows. It, however, concluded at yesterday's level of 44.10/11.  Keeping a watch on the record $22 billion FII investments in the booming Indian stock markets this year, the Reserve Bank today said it will "intervene if the inflows are lumpy and volatile".

Lastupdate on : Fri, 15 Oct 2010 21:30:00 Makkah time
Lastupdate on : Fri, 15 Oct 2010 18:30:00 GMT
Lastupdate on : Sat, 16 Oct 2010 00:00:00 IST



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