NEWS / Foreign Exchange

The Dollar slid to a 3 month low against the Euro

??? The Rupee strengthened considerably due to inflows but the RBI was seen to intervene through the PSU banks. The USD/INR pair ended at 44.11 from 44.19 earlier.

??? The 6-month and 1-year forward premium was at 3.58% and 3.21% as compared to 3.52% and 3.20% previously.

??? The Dollar slid to a 3 month low against the Euro as market sentiment seems to be turning against the greenback with housing sector and subprime mortgage sector woes adding to the investors discomfort. EUR/USD was at 1.3333 from 1.3216 yesterday and GBP/USD was at 1.9492 from 1.9357 yesterday. USD/JPY was at 116.59 from 117.35 yesterday*.

*These levels are taken at 17:30 IST.