Page 39 - S Dollar News Today

At the interbank foreign exchange, the domestic unit traded in a narrow range of 83.23 to 83.27

The homebuilding data would normally boost stocks, however the accompanying rise in yields had sellers getting the upper hand.

Official exchange rate drops to Rs276.80

At the interbank foreign exchange market, the local unit moved in a range of 83.24 to 83.28 in the day trade

A rise in Treasury yields failed to deter investors and traders Monday as they weighed into Wall Street pushing the major indices solidly higher.

With BRICS emerging as a major trading bloc with six more countries, it will end the era of petrodollars particularly in the oil business.

U.S. stocks were divided but mostly trended lower on Friday, although the Dow Jones managed to sneak out of the woods with a modest gain.

Subdued sentiments in the domestic equity markets and concerns over foreign funds withdrawal capped a sharp gain in the Indian currency, forex analysts said

At the interbank foreign exchange, the local unit traded between the intra-day peak of 83.12 and the lowest level of 83.25 against the greenback

On October 10, the local unit settled at 83.25 against the American currency