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Our Bureau

MUMBAI: The dollar's weakness overseas continues to augur well for the Indian rupee, which closed around 3 paise stronger at 46.2950/30 per dollar on Friday as against its close of 46.32 on Thursday.

The domestic currency opened at 46. 30/31 and got dealt to a low of 46.3250.

The rupee remained in tight band due to subdued dollar inflows and lack of any significant demand in the market, dealers said.

"Globally the dollar is not showing much strength. Domestically, whenever there is genuine corporate demand for the greenback, the RBI steps in to support the rupee by selling dollars. So the rupee is expected to remain strong for a while", said a dealer.

In the forwards market, the six-month premium ended at 1.95 per cent (2.19 per cent) while the premium for one year ended at 1.70 per cent (1.87 per cent).

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