Forex tips: The rupee depreciated by 18 paise to 62.42 against the dollar in early trade today on the Interbank Foreign Exchange as the American currency firmed up overseas on upbeat US jobs report. Besides, increased demand for the dollar from importers and a lower opening in the domestic equity market weighed on the local currency, forex dealers said. The rupee had ended steady at 62.24 against the dollar in yesterday's trade due to uneven demand-supply transactions of the US currency from banks.
Russian rouble storms higher as rally continues
The Russian rouble stormed higher on Friday, continuing a rally for a fifth day, as investors flooded back to cash in on an enduring truce in eastern Ukraine and high rouble interest rates. At 0750 GMT the rouble was up 1.5 percent against the dollar at 51.08 and 2 percent stronger at 54.25 against the euro, setting new new 2015 highs. The rouble has risen 10 percent against the dollar this week, taking many analysts by surprise as the Russian currency has largely decoupled from the oil price which is typically its key driver. Russian stock indexes were mixed on Friday, with strong gains in the dollar-denominated RTS index which is boosted by a stronger rouble. At 0750 GMT the RTS was up 2.8 percent to 1,031 points while the rouble-based MICEX index was down 0.3 percent to 1,662.
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