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14:03 2007/06/25

NEWS / Foreign Exchange

The Sterling touched the 2 mark again

??? The Rupee weakened further due to Dollar demand by foreign banks, oil cos and NDF, with no flows seen to support the Rupee. The USD/INR pair ended at 40.86 from 40.76 earlier.

??? The 6-month and 1-year forward premium was at 2.40% and 2.52% as compared to 2.76% and 2.72% previously.

??? The Sterling touched the 2 mark again as market expectations of the BoE announcing a rate hike in June strengthen. EUR/USD was at 1.3465 from 1.3435 on Friday and GBP/USD was at 1.9999 from 1.9967 on Friday. JPY/USD was at 123.63 from 124.12 on Friday. *

*These levels are taken at 17.30 IST.