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Our Bureau

Mumbai, April 23

The rupee strengthened by around 9 paise against the greenback to close at 41.67/68 on Monday against the previous close of 41.76/77. It opened at 41.67, saw an intra-day high of 41.58 (which was also a nine-year high) before closing at 41.67/68. "Exporters were seen selling dollars. Strong FII inflows also contributed positively to the strengthening of rupee," said a dealer with a private bank.

"There was some dollar buying by oil companies which weakened the rupee towards the close," the dealer added. Market participants expect the rupee to appreciate further to 41.50. In forwards, the six-month premia closed at 6.70 per cent (6.49 per cent) while the 12-month ended at 5.02 per cent (4.91 per cent).

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Rupee gains 9 paise

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