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Our Bureau

Mumbai, April 13

The rupee appreciated by around 32 paise against the dollar on Friday to close at 42.52/53 on Friday, compared to the previous close of 42.84. The domestic currency opened at 42.77, touched an intra-day low of 42.82, before closing at 42.52/53. "There was heavy selling of dollars in the market and hopes of any intervention by the Reserve Bank of India were fading," said a dealer with a private bank.

Market participants expect the rupee to trade in the 42.45-42.80 range. In the forwards, the six-month premia closed at 5.95 per cent (5.36 per cent), while the 12-month closed at 4.57 per cent (4.20 per cent).

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