Rupee gains on fresh
selling of dollar by exporters
The rupee rose against
the US dollar and was trading at 62.98 at the
Interbank Foreign
Exchange market on fresh selling of the American
currency by
exporters.
Forex dealers said a higher opening in domestic equity
market also
supported the rupee but a weakening dollar against some
other currencies
overseas capped the rise.
The rupee had lost 47
paise at 62.97 against the dollar on Friday on
sustained dollar
demand from importers amid weakness in local shares.
Dollar hits 12-year
euro high before US Federal meet,
Shanghai jumps
The dollar hit a 12-year
high against the euro Monday, ahead of a closely
watched Federal
Reserve policy meeting this week, while oil prices fell
again as US
supplies continued to build.
Shanghai jumped 2.27 per cent, or 76.40
points, to 3,449.31 -- its highest
since August 2009 -- and Hong
Kong added 0.53 per cent, or 126.34
points, to 23,949.55.
Tokyo's
Nikkei, which on Friday closed above 19,000 points for the first
time in 15 years, edged down 8.19 points to finish at 19,246.06.
Sydney ended down 0.29 per cent, or 16.8 points, at 5,797.7 while
Seoul
was marginally higher, adding 1.54 points to 1,987.33.
In
morning trade Monday the euro fell to $1.0451 -- its lowest
since
January 2003 -- before ticking up slightly in the afternoon to
$1.0545,
compared with $1.0489 in New York. The single currency was
also at
127.83 yen compared with 127.38 yen in US trade. The dollar
fetched
121.25 yen against 121.44 yen.
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