Rupee in a Flash....

Updated On April 25 - May 3, 2009

This article reveals in a flash for you, the currency trading trend for the Rupee against the top most traded currencies at close of the markets as on Saturday April 25th, 2009

RUPEE/US DOLLAR
Rupee observed a negative trend versus greenback in the kerb dealings this week amid rising demand of US currency. The US dollar set off week’s trading at Rs.80/40, posted gains and was trading at Rs.80/50 at close of markets on Saturday. Thus, rupee shed 0/10 paisas versus dollar in the kerb dealings. On the international desk, The U.S. dollar dropped against all but two of the 16 most- traded currencies tracked by Bloomberg, with the exceptions being the British pound and the Mexican peso. Canada’s central bank halved its key overnight interest rate on April 21 to a record low 0.25 percent. Governor Mark Carney said yesterday he stood ready to deploy extraordinary measures including printing money to buy assets and spur lending, as the nation’s economy swoons. The loonie jumped yesterday the most in three weeks on speculation Carney may refrain from deploying the measures, known as quantitative easing.

RUPEE/POUND STERLING
The cable appreciated versus rupee amid demand of British currency continued to rise in the kerb dealings this week. The cable opened new week’s trading at Rs.116/27, registered gains and was changing hands at Rs.116/33 at close of markets. Thus, rupee ended the week on a negative note versus Pound in the kerb.

RUPEE/EURO
Euro remained major gainer versus the local currency in the open market this week. The single currency kicked off new week’s trading at Rs. 103/31 on Monday, posted major gains on the desk and was changing hands at Rs.105/22 at close of markets on Saturday. Thus, rupee lost Rs.1/91 versus Euro zone’s shared currency. In the international market, the euro rallied sharply at the end of the week, climbing toward the 1.33-level against the greenback and edging up to above the 129-handle versus the yen. Germany’s economic sentiment unexpectedly beat out consensus estimates, with the April IFO index climbing to 83.7, versus 82.4 a month earlier. The expectations component jumped to 83.9, improving from the previous month at 81.6, while the current conditions index edged up to 83.6 from 82.7.