Rupee appreciates against US dollar

The Indian rupee appreciated by 0.67 paise to Rs 56.5775 against the US dollar on Monday as a result of fresh selling of the American currency by banks prior to the expected measures from government to arrest the rupee's decline. At NSE, USDINR for June 2012 contract traded at Rs. 56.5775 per dollar, rupee appreciated by 0.67 paise, after opening at Rs. 56.9950 against the previous closing price of Rs. 57.2550. It rose to Rs. 56.9950 per dollar with a business volume of 1397012 lots till the trading. (At 12.12 PM today).

Finance Minister Pranab Mukherjee stated that the government will announce several measures with an aim to deal with the problems facing the economy, including the rupee depreciation, along with the Reserve Bank.

At the Chicago Mercantile Exchange (CME), EURUSD future for September 2012 contract traded at US$1.2503 per euro (USD appreciated by 0.36 per cent against EUR) and GBPUSD future for September 2012 contract traded at US$1.5572 per pound (USD appreciated by 0.17 per cent against GBP) at 12.13 PM today.

S&P CNX NIFTY, at NSE, was trading at 5,176.80, up by 0.60 per cent, after opening at 5,158.50 against the previous closing of 5,146.05. It touched the intra-day high of 5,194.60 till the trading. (At 12.11 PM today).

Read more about: rupee, dollar
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