Wednesday, February 20, 2008

INDIAN RUPEE CROSSES 40-MARK AGAINST US $ !!!!

The Indian Rupee (INR) has crossed the 40 mark against the US dollar for the first time in last five months with the heavy shortage of the US currency, further emphasised by the global crude oil prices which hit the fresh records. The INR value against USD has been under the 40 mark since 20th September last year when it closed at Rs. 39.89 against an US dollar. At the Inter-Bank Foreign Exchange Market today, the INR touched a low of 40.24 against USD and finally closed at Rs. 39.95/97. Meanwhile the INR against other major foreign currencies are:
  • Sterling Pound - Rs. 78.15/17
  • Euro - Rs. 59.12/14
However RBI (Reserve Bank of India) fixed the refernce rate for the USD at Rs. 40.15 per dollar and for the Euro at Rs. 59.06 per Euro.

No comments: