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Our Bureau

Mumbai, Feb. 9

The rupee closed flat for the second day on Friday at around 44.12/13. Continuous intervention by the Reserve Bank of India in the market this week aided the rupee to trade in the range of 44.10-44.12.

"The rupee even reached the levels of 44.03 and could have breached it, but the RBI was seen in the market buying dollars," said a dealer at a private bank. This pushed the rupee to a close of 44.12/13, against Thursday's close of 44.12/1250. "The rupee is likely to trade in the range of 44-44.15 in the next week," said the dealer. The six-month forward premia closed at 3.21 per cent (3.27 per cent) and the one-year closed at 3.01 per cent (3.02 per cent).

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