Rupee falls to 49 per dollar at open

Good Morning Friends,
Thursday October 16, 2008. My day starts with Prayer at Dadaji’s hosue. Today we have Mr. Vinodbhai Thaakar as our guest there who runs a Prathana Parivar. He gives us very good discourse on Prayar. It was nice. When I reach at office the very first news I read it Rupee falls sharply.

The rupee fell sharply on Thursday as a slump in overseas share markets triggered concerns of increased capital outflows from the local market.
At 9:00 a.m., the partially convertible rupee was at 49.00/15 per dollar compared with Wednesday's close of 48.525/540. It hit a record low of 49.30 last week.

Traders said Wednesday evening's cut in cash reserve requirements for banks would provide more room for the central bank to intervene to support the rupee.

Rupee rises sharply against dollar

Good Morning friends, today is Wednesday, September 17, 2008. Day started with routine walk and as we have guest at home, we take breakfast together. Yesterday night I hear news of AIG got support from American Federal Reserve and AIG survive.

We also have good new today. Indian rupee rises sharply against dollar. Here is the news I just read from NDTV Profit website.

Rupee rose sharply on Wednesday after posting its biggest single-day fall on Tuesday, supported by the RBI's move to make rates on deposits by non-residents more attractive.

Rupee was trading at 46.35/37 per dollar, 1.2 percent stronger than 46.89/90 at close on Tuesday when it had fallen to 46.99 during trade, its weakest since July 24, 2006.