Rupee appreciates against US dollar

Posted By: Religare
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The rupee appreciated by 0.04 paise to Rs 53.4400 against the US dollar on Tuesday due to recent measures taken by the government in order to curb the fiscal deficit and allowing 50 per cent FDI in Retail and Aviation sector. However, gains were limited on account of increased month-end demand for the American currency from importers. At MCXSX, USDINR for September 2012 contract traded at Rs. 53.4400 per dollar, rupee appreciated by 0.04 paise, after opening at Rs. 53.4275 against the previous closing price of Rs. 53.4775. It rose to Rs. 53.5975 per dollar with a business volume of 1020608 lots till the trading. (At 12.18 PM today).

At the Chicago Mercantile Exchange (CME), EURUSD future for September 2012 contract traded at US$1.2917 per euro (USD appreciated by 0.11 per cent against EUR) and GBPUSD future for September 2012 contract traded at US$1.6237 per pound (USD depreciated by 0.07 per cent against GBP) at 12.17 PM today.

S&P CNX NIFTY, at NSE, was trading at 5,667.70, down by 0.03 per cent, after opening at 5,674.90 against the previous closing of 5,669.60. It touched the intra-day low of 5,652.45 till the trading. (At 12.16 PM today).

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