MARKET HEADLINES
Rupee gains 6
paise against dollar in early trade
The rupee strengthened by
6 paise to 62.25 against the dollar in early
trade today at the
Interbank Foreign Exchange on fresh selling of the US
currency by
exporters and banks.
Forex dealers said besides selling of the
American currency by exporters
and banks, a higher opening in
domestic stock market supported the
rupee.
The rupee had ended 9
paise lower at 62.31 against the US currency in
yesterday's trade on
fag-end dollar demand from banks and importers
amid sharp fall in
stock markets.
Dollar firmer vs
yen before Yellen testimony; euro
eyes Greece's reform plan
The dollar edged higher
against the yen on Tuesday, but traders were
wary of making too many
bets on the currency ahead of congressional
testimony by Federal
Reserve Chair Janet Yellen.
Yellen's appearance before the US Senate
Banking Committee is drawing
extra attention after dovish-sounding
minutes from the Fed's January
meeting released last week dented
expectations for an early interest rate
hike, and hurt the dollar.
Against the yen, the dollar edged up 0.2 per cent to 119.08 yen,
having
traded in a range of 118.11 yen to 119.42 yen range since
Feb. 16.
The euro was steady at $1.1330 after shedding about 0.4
percent on
Monday as the lift gained from a weekend agreement on a
loan extension
between Greece and its creditors petered out.
The
common currency rose 0.2 percent to 134.95 yen , regaining a bit of
footing after losing 0.6 per cent on Monday.
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