|
Monday May 11, 09:12 AM
|
Source: Financial Express
|
Rupee appreciates to 49.10 against dollar
The rupee rose to fresh three-month highs in early deals on Monday tracking the dollar's losses versus major currencies overseas, but traders were awating the domestic share market open for further direction.
At 9:15 a.m. the partially convertible rupee was at 49.10/11 per dollar, off an early high of 49.05, its highest since Feb. 17 and above its Friday's close of 49.285/295.
The dollar index fell to its lowest in four months, as investors emboldened by a smaller-than-expected fall in US jobs, diversified into other currencies.
Asian shares were mixed at 0345 GMT. Japan's Nikkei stock index fell 0.6 per cent while Hong Kong's main index rose 0.8 per cent. Korea's index was down 0.1 per cent while Shanghai's index was up 0.86 per cent.
One-month offshore non-deliverable forward contracts were quoting at 49.06/16, stronger than its onshore spot rate.
