Dollar Rate In India

Dollar Rate In India Latest News About Update: Mumbai, Mar 3 (UNI) The Rupee today closed at a six-week high at 45.82 against the dollar with a gain of 20 paise on renewed selling pressure on the greenback by bankers and bullish trend at the equity markets, traders at the Interbank FOREX Exchange (FOREX) said here.

The Indian unit resumed firm at 45.87 a dollar and later its movement was range bound between 45.80 and 45.90 in intra day trade.

The rupee opened with a gap, tracking the dollar’s fall but has been more or less steady since then. The dollar fell to its lowest in more than two months against the yen on Wednesday as investors dumped long positions against other currencies that had built up to levels not seen in more than a year.

The index of the dollar against six major currencies was down 0.25 percent. Most Asian units were also stronger compared to the dollar.

”The rupee is mainly tracking the stockmarket today. Asian currencies are also providing support,” said a senior trader at another foreign bank. Indian shares were trading up 0.8 percent.

One-month offshore non-deliverable forward contracts were quoted at 45.84/94. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were both quoting at 45.9525 respectively, with the total traded volume on the two exchanges at about $555 million.

Six month forward dollar premium was recorded low at 2.74/76 per cent (2.76/78) and one-year annualised dollar premium also ended weaker at 2.62/64 per cent (2.68/70).

The domestic unit ended against global currencies like Euro at 62.54/56 (62.30/32) per unit, Pound Sterling at 69.04/06 (68.96/98) per unit and Yen at 51.60/62 (51.70/72) per 100 units, dealers added.