Articles & Finance Updates

Rupee staged good comeback versus greenback in the currency exchange market. The American dollar commenced trading at Rs.85.50 for buying and Rs.86.00 for selling, depicted negative trend amid decline in its and was trading at Rs.85.30 for buying and Rs.85.80 for selling at close of markets on Tuesday. Thus, rupee recovered 0.20 paisas versus dollar in the forex rate market today.

In the interbank dealings on Tuesday, rupee also recovered grounds versus US dollar on Tuesday. The US dollar kicked off today’s trading at Rs. Rs.85.70 for buying and Rs.85.90 for selling, shed grounds amid low demand and was trading at Rs.85.60 for buying and Rs.85.80 for selling at close of markets.

The greenback posted more gains against the national currency amid more demand of US currency in the currency exchange market this week. On Monday, US currency was being traded at Rs.85.50 for buying and Rs.86.00 for selling. Overall, rupee lost 0.20 paisas versus dollar in the forex rate market.

On the interbank desk, the American currency was being traded at Rs.85.70 for buying and Rs.85.90 for selling at close of markets on Monday.

The cable incurred losses against rupee as decline in UK currency’s demand in the currency exchange market on Monday. The British currency commenced new day’s trading at Rs. Rs.132.65 for buying and Rs.134.69 for selling, depicted negative trend and was change hands at Rs.132.18 for buying and Rs.133. 77 at close of markets. Thus, rupee recovered 0.47 versus Pound Sterling.

Dollar versus Rupee:

Weekly trend:

Dollar’s rise continued as demand of greenback remained high and dollar’s better performance in the international market. On the global desk, the American currency scored gains since August versus 6 major counterparts amid its concern that debt problem of Europe will worsen and military action in Korea will escalate boosted demand for the U.S. currency as a refuge. Moreover, in the currency exchange market here, the US dollar was trading at Rs.85.30 for buying and Rs.85.80 for selling at close of markets on Saturday. However, on Monday the American dollar was trading at Rs.84.50 for buying and Rs.85.00 for selling. Overall, rupee ended the week on a negative note versus US currency this week.

Short term outlook:

US dollar might score more gains against rupee in the coming days amid demand from importers would emerge. Thus, it will boost the demand of US dollar against rupee.

US dollar continued to go up amid demand of US currency in the currency exhcnage market on Thursday. The American dollar commenced new day’s trading at Rs.84.80 for buying and Rs.85.30 for selling, scored gains amid hike in demand and was trading at Rs.85.40 for buying and Rs.85.70 for selling at close of markets on Thursday.

The national currency declined on Thursday against greenback amid rise in dollar’s demand in the interbank market too. The US currency was trading at Rs.85.40 for buying and Rs.85.60 for selling at close of markets.

Pound Sterling remained in the positive territory against rupee in the currency exchange market on Thursday. The cable started off new day’s trading at Rs.132.89 for buying and Rs.134.75 for selling, scored gains amid demand high and was trading at Rs.135.20 for buying and Rs.135.30 for selling at close of markets.