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Topic : The Dollar in Forex Trading
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Rupee up 7 paise against US dollar by Cambio

Rupee up 7 paise against US dollar

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Activity:  2 comments  134 views  last activity : 04 25 2012 06:54:53 +0000
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The Indian rupee gained 7 paise to Rs 45.17 against the US dollar in early trade on Tuesday at the Interbank Foreign Exchange, led by a higher opening in the stock market and weakness of the American currency against its major global rivals. 

The rupee had ended 12 paise lower at 45.24/25 against the US dollar in the previous session amid heavy dollar-selling by banks and importers. 

Forex dealers said in addition to dollar weakness against other Asian currencies and the Euro overseas, a higher opening in the stock market also supported the rupee sentiment.

Read more: Rupee up 7 paise against US dollar - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-up-7-paise-against-US-dollar/articleshow/7176648.cms#ixzz19OEZY6Lb

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2 comments on "Rupee up 7 paise against US dollar"
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  Commented by  Ankit Shah, Manager - Risk Advisory    | 12 28 2010 10:40:01 +0000 
"Rupee is likely to trade in a broad range of 45.05 - 45.30 during this week on account of Yera end factor. Also , some month end pressure can be seen on a currency due to persistent importers demand. target of 45.40 can be seen and a breach of same can further give momentum"!!!
  Commented by  Sonali Sarkar, Trading Advisor, American Express    | 12 28 2010 09:16:13 +0000 
Thank you for sharing the information..the market is hot...can hope a further rise.
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