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Our Bureau

Mumbai, May 11

The rupee strengthened against the dollar by about 5 paise on Friday as corporates sold dollars. However, dealers said, the trading was volatile during the day. The domestic currency closed at 41.23/24 on Friday against the previous close of 41.28/29. The rupee opened the day at 41.46, which was also the intra - day low, to close at 41.23/24. The greenback was, however, seen strengthening against other major currencies. "Dollar has appreciated against euro and pound," the dealer said. Traders expect the rupee to trade in the 41.10 - 41.50 range in the coming week. In forwards, the six-month premia closed at 4.42 per cent (4.90 per cent) and the 12-month ended at 3.96 per cent (4.26 per cent).

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