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Our Bureau

Mumbai, June 5

The rupee gained against the greenback in tandem with the global weakening of the dollar against all major currencies. The rupee opened at 45.82/83 and touched an intra-day low of 45.88 and rose to end the day at 45.78, up from Friday's close at 45.90/91. A chief forex dealer at a private bank said the recently released US non-farm payroll data was unfavourable for the dollar.

Currencies such as the euro and GBP gained by 150 and 250 basis points, respectively. "The rupee is likely to be in the range of 45.75 and 46. The continuous declines in the stock market and high oil prices continue to be negative factors that might cause the rupee to stay weak," said the dealer. In the forward premia market, the 6-month premium closed at 0.75 per cent (0.68) and the 12-month premium at 0.91 per cent (0.88).

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