Dollar weak

Geeta Parthip
02 August 2004

The rupee forced itself back to 46.36 per dollar firmer than its Saturday closing at 46.40 levels. The weakening of the dollar globally reflected in the rupee also aided by RBI support to our currency.

All major currencies are experiencing a retracement of the dollar gains of Saturday more owing to technical reasons and the national banks boosting their respective currencies, the yen has risen from 111.50 levels to 110.50 per USD today, the pound sterling from 1.8220 levels to 1.8315 and euro from 1.2020 to 1.2090 in today's trade.

Data releases through the week will determine movements of the currencies after this necessary correction of today.