ID :
14931
Tue, 08/05/2008 - 15:22
Auther :
Shortlink :
http://m.oananews.org//node/14931
The shortlink copeid
Rupee drops by five paise Vs US dollar in early trade
Mumbai, Aug 5 (PTI) - The Indian rupee Monday dropped by
five paise to 42.4050/4150 against the U.S. currency on good
demand for dollars from banks from oil companies in view of
rise in oil prices in global markets.
At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed lower at 42.44/45 a dollar from the Friday's level of 42.35/36 before being quoted at 42.4050/4150 at 1130 hrs.
Oil prices rose above USD 126 in Asian trade Monday over fresh worries about Iran's disputed nuclear programme and a new storm brewing in the Gulf of Mexico, dealers said.
In morning trade, New York's main contract, light sweet crude for September delivery, jumped USD 1.12 to USD 126.22 a barrel from its close of USD 125.10 on Friday. PTI RSU
At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed lower at 42.44/45 a dollar from the Friday's level of 42.35/36 before being quoted at 42.4050/4150 at 1130 hrs.
Oil prices rose above USD 126 in Asian trade Monday over fresh worries about Iran's disputed nuclear programme and a new storm brewing in the Gulf of Mexico, dealers said.
In morning trade, New York's main contract, light sweet crude for September delivery, jumped USD 1.12 to USD 126.22 a barrel from its close of USD 125.10 on Friday. PTI RSU
