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Our Bureau

Mumbai, April 3

The rupee began the new fiscal on a dull note on Monday. It was range-bound against the dollar and moved in the narrow range of 44.60-44.62 during the day. There were no factors that could move the market , said dealers. The rupee opened at 44.61/62 and closed at 44.59/60, marginally higher than the previous close of 44.61/62. "The forward premia were also fairly range bound with the one-year closing at 1.81 per (1.85 per cent) cent and the six-month closing at 2.01 per cent (2.05 per cent). Volumes in the forex market were affected to some extent due to the strike by the employees of SBI, said the dealer.

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