MARKET HEADLINES
Rupee up 4 paise to 63.47 against dollar in early trade
In line with the stock market, the rupee failed to maintain initial gains against the dollar and was quoted lower by six paise to 63.57 on fresh demand for the American currency from banks and importers due to heavy foreign capital outflows. The rupee resumed higher at 63.45 as against Wednesday's closing level of 63.51 at the Interbank Foreign Exchange ( Forex) on initial selling of dollars by banks and exporters. However, it failed to maintain initial gains and dropped to 63.64 before quoting 63.57 at 1000 hours. It moved in a range of 63.45-63.64 per dollar during morning trade.
South Korean won firmer on exporter demand; shares flat
The South Korean won firmed against the dollar on Friday, as exporters sold the greenback for settlements in a quiet trading session typical of the holiday season. The won was quoted at 1,098.7 to the dollar at the conclusion of onshore trade, compared with 1,102.6 at Wednesday's close. South Korean shares closed nearly unchanged, although sentiment was upbeat after the latest in a string of positive US economic data. The Korea Composite Stock Price Index (KOSPI) ticked up 0.08 percent to close at 1,948.16 points.
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