The Hindu Business Line : Rupee gains due to dollar inflows

The rupee gained on Tuesday due to dollar inflows, though the range was limited to between 3-4 paise. It opened at around 46.12 and touched a high of 46.08, which was also the day's close. On Monday, the rupee ended at 46.14/1450. "Though the rupee closed stronger it was a dull day in terms of trade," said a dealer with a private bank.

The dollar gained against most Asian currencies, particularly the yen. This helped the Indian currency, the dealer said. "The rupee is not breaking the 46 level because oil companies are buying dollars. But it could cross the level next week," said the dealer. The forward premia saw receiving interest with the six-month premium closing at 1.23 (1.36 per cent) and the 12-month premium closed at 1.25 per cent (1.34 per cent).

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