Rupee ends firm at 46.34/35
The rupee opened the day at 46.46/48 and grew stronger to 46.28 vis-a-vis the dollar, but ended the day at 46.34/35.
By TNN |
The rupee opened the day at 46.46/48 and grew stronger to 46.28 vis-a-vis the dollar, but ended the day at 46.34/35. Market sources attributed the movement to foreign banks undertaking heavy custodial selling of dollars and inter-bank dealers taking to profit-booking.
The rupee was buoyed by the yen and Chinese yuan. Forward premia ended the day slightly lower than Friday’s closing levels. The yield on the 6-month forward premia closed at 1.37% (1.40%) and that on the 1-year premia closed at 1.39%(1.41%).
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