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Our Bureau

Mumbai, Dec 21

The rupee strengthened by about 10 paise on strong dollar inflows. The rupee was helped by FDI-related inflows and lack of speculative buying, said dealers.

"The rupee's gain was totally dollar-supply driven," said a dealer. Most market participants unwound their positions ahead of the weekend, aiding the rupee. The rupee opened at 44.71/72 and closed at 44.60/62 against the earlier close of 44.71/72. The dollar gained against overseas currencies, as most markets were not active ahead of Christmas holidays.

In forwards, the six-month premium closed at 3.26 per cent (3.17 per cent) and the one-year closed at 2.77 per cent (2.67 per cent).

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