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3143.10 points; Sensex tumbles by 150 points Rs 42.18/20; Re steady despite sanctions

Re steady despite sanctions

The Indian currency opened at 42.22 per dollar, slightly lower than the previous close of Rs 42.18/20. It touched the day's low of Rs 42.27 on some dollar buying interest by corporates and banks. However, closed at Rs 42.18/20, unchanged from the previous close.

Dealers said that the major market player State Bank of India did not participate actively. But was issuing quotes for dollar.

Cash-spot business was done at the higher level of 6.50-7 paise premium due to four-day transactions, dealers said. In the forwards, premiums dropped marginally due to some receiving at higher levels, they said.

The Reserve Bank of India fixed the reference rate at Rs 42.20 as against yesterday's rate Rs 42.09.

Smart recovery by Japanese yen in the world market also strengthened yen against rupee. The yen opened at Rs 30.80 and closed at Rs 31.42 against the previous close 30.89. The rupee ended at Rs 70.49 against British pound while it closed at 23.55 against deutsche mark.

UNI