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Drumbeat: Ad Buzzaar
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Tuesday, November 10, 1998
Rupee firms up against dollar
ENS ECONOMIC BUREAU
MUMBAI, Nov 9: The rupee firmed up against the dollar on news that the US has temporarily waived sanctions against India, but ended off its early highs in moderately active two-way trade at the interbank foreign exchange (forex) market.The Indian currency closed at Rs 42.27/29 per dollar, mildly higher from last Friday's finish of Rs 42.29/30 after spurting to an initial high of Rs 42.24/25 on reports that the US had waived sanctions against India. The rupee opened higher at Rs 42.26/27. All round buying of dollars by banks and corporates when the US unit come to lower level, stopped the rupee's further appreciation, a broker said. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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