Thursday, September 09, 2010

Articles & Finance Updates

Dollar and Euro down, Pound goes up, UAE Dharam remains unchanged

Decline in dollar’s demand was witnessed as rupee‘s recovery continued throughout and ended the day at Rs.85.00 at close of markets.  Overall, the national currency recovered 0.20 paisas versus the greenback. On the international desk, the greenback was set to poise to gain against euro for the third biggest gain this quarter.  

The spending from consumer increased last month in the U.S. more than forecast. The upward trend in purchase was recorded as 0.2% increased as seen after little change in April. Moreover, 0.40% rise was witnessed in Incomes while saving rate expanded to the record level in eight months.

   

Paksitani Rupee remains strong

Dollar versus Rupee:

Weekly trend:

Recovery was observed in the national currency’s strength as rupee posted 0.05 paisas against the greenback. The US currency was trading at Rs.85.20 on Friday as it started off its journey at Rs.85.25 on Monday. Dollar’s demand was on the decline as rupee took advantage of it. Moreover, rupee also remained on the positive side versus rupee, last week that ended as on 18th June 2010. Therefore, rupee registered gains since last 2 consecutive weeks.

   

Rupee unchanged against dollar and Dharam, shed grounds versus euro and Pound

Rupee remained unchanged amid decline in dollar’s demand in the currency exchange market. The dollar ended the day at Rs.85.10 versus the national currency on the local desk. Thus, rupee continued to trade on a positive note against the US currency.  In the international desk, against the green back, the single currency of Euro zone has fallen 19 percent since its Nov. 25 high, traded today at $1.2279 after touching a four-year low of $1.1877 on June 7.

   

Rupee up versus dollar, euro, and UAE Dharam , lost against Pound

Another dull trading session was observed in the absence of dollar’s demand in the currency exchange market on Wednesday. The American currency was continuing to trade at the same price at close of markets. On the international desk, the dollar sold near a four-week low versus the yen before a report that’s forecast to show U.S. new-home sales plunged in May the most in 16 years. The dollar shed 0.5 percent to 90.15 yen at 9:06 a.m. in New York, from 90.57 yesterday. It touched 90.09, near a one- month low of 89.97 reached June 21.

   

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