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Our Bureau

Mumbai, March 9

With the stock market gaining, the rupee was steady against the US dollaron Thursday . The yen also staged a recovery during intra-day trade.

The rupee opened at 44.51/53 and fell to 44.59 on dollar buying prompted by fears that selling in the stock market would continue today as well. However, as the stock market recovered the rupee also made an intra-day gain to end at 44.48 unchanged from Wednesday's close, a dealer with a private bank said.

Forward premia saw a steady decline in tune with the trends in the bond market and the cancellation of the Government auction. The six-month premium closed at 2.5 per cent (2.67 per cent) and the one-year closed at 1.97 per cent (2.15 per cent).

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