Forex tips: The rupee rose against the US dollar and was trading at 62.98 at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters. Forex dealers said a higher opening in domestic equity market also supported the rupee but a weakening dollar against some other currencies overseas capped the rise. The rupee had lost 47 paise at 62.97 against the dollar on Friday on sustained dollar demand from importers amid weakness in local shares.
The dollar hit a 12-year high against the euro Monday, ahead of a closely watched Federal Reserve policy meeting this week, while oil prices fell again as US supplies continued to build. Shanghai jumped 2.27 per cent , or 76.40 points, to 3,449.31 -- its highest since August 2009 -- and Hong Kong added 0.53 per cent , or 126.34 points, to 23,949.55. Tokyo's Nikkei, which on Friday closed above 19,000 points for the first time in 15 years, edged down 8.19 points to finish at 19,246.06. Sydney ended down 0.29 per cent, or 16.8 points, at 5,797.7 while Seoul was marginally higher, adding 1.54 points to 1,987.33. In morning trade Monday the euro fell to $1.0451 -- its lowest since January 2003 -- before ticking up slightly in the afternoon to $1.0545, compared with $1.0489 in New York. The single currency was also at 127.83 yen compared with 127.38 yen in US trade. The dollar fetched
121.25 yen against 121.44 yen.
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