Thursday 31 May 2012

CURRENCY UPDATE : 31-May-2012


DOLLAR
Strengthening of dollar against the euro, which plunged to a two-year low on continued euro-zone worries and strong month-end demand from importers, particularly oil refiners, mainly put pressure on the rupee.

EURO
The euro rose from the weakest in almost two years against the dollar as Spanish and Italian bonds rallied amid speculation the European Central Bank will announce measures to combat the debt crisis when it meets next week.

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