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Mumbai, April 19

The rupee was range-bound against the US dollar on Wednesday as demand matched supplies. Though the rupee ended higher than the previous close, it did not mirror the gains made by overseas currencies such as the euro, yen and pound, said dealers. "We are moving away from global demand and supply conditions. Domestic factors such as the intervention of the central bank are affecting the spot rupee market more," said a chief forex dealer with a private bank. The rupee opened at 45.10 and traded in range of 45.10-45.20. It ended at 45.09/10, higher than the previous close of 45.18. There was some corporate buying and some gold-linked buying today. "Given the move in other currencies, the rupee should have been at levels of 44.80," the official said. Oil prices crossing the level of $72 for a barrel had some negative impact, but was not a significant factor in the movement. In the forward premia market, the six-month ended at 1.09 per cent (1.12 per cent) and the 12-month at 1.08 per cent (1.16 per cent). — Our Bureau

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