The Hindu Business Line : Rupee turns easy against dollar

The rupee turned easy against the dollar on Monday on month-end demand not matched by dollar inflows. There was also oil related buying, said dealers. The rupee opened at 45.90 and touched a high of 45.84. It ended trade at 45.95, a tad lower than Friday's close of 45.90. "Though the market was range-bound between 45.84 and 45.95, it was not lacklustre. Oil companies bought dollars in the morning which pushed the rupee down," said a forex dealer. "The rupee may touch 45.75 in a week as there are supplies coming in," he added. In the forward premia market, the six-month premium closed at 1.25 per cent (1.21 per cent) and the 12-month closed at 1.29 per cent (1.26 per cent).

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