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Our Bureau

Mumbai, Nov. 17

The rupee was almost unchanged against the greenback on Friday as demand was offset by the supply of dollars. Dealers said the domestic currency opened at 44.94/96 and touched an intra-day low of 45.07. It then edged up to close the day at 44.91, against 44.92/93 on Thursday. Traders said that demand for dollars from importers and cancellation of forward contracts caused the rupee to depreciate. But the heavy supply of dollars caused the domestic currency to firm up. There are FII, FDI and ECB related dollar inflows in the market, said a dealer at a private bank.

The rupee could appreciate to 44.80 if RBI does not intervene in the forex market, added the dealer. In the forward premia market, the six-month closed at 2.01 per cent (1.98 per cent) and the 12-month ended at 1.85 per cent (1.82 per cent).

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