The Hindu Business Line : Rupee firmer against dollar

With oil companies becoming scarce (they were active on Monday), the rupee gained against the dollar on Tuesday. Dealers said gold buying by importers was also absent.

The home currency opened at 46.34/36, touched an intra-day high of 46.24/25 to finally end at 46.27/28. On Monday, the rupee had closed at 46.30. "The yen weakened against the dollar on cross currency movements," said a dealer at a private bank and added that the rupee could trade in the week between 46.35 and 46.40.

Equity markets ending higher added to the bullish sentiment in the market, the dealer said. In forwards, the six-month premium ended at 1.43 per cent (1.39 per cent) and the 12-month premium at 1.39 per cent (1.37 per cent).

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