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Our Bureau

Mumbai, May 23

The rupee ended flat on Wednesday. The home currency opened at 40.55/57, traded in a range of 40.53-40.61 and finally closed at 40.57/58 against the previous close of 40.57 on Tuesday. The rupee strengthened to 40.53 on strong dollar supplies in the market. "The RBI soon intervened in the market, which brought down the rupee to 40.60/61 during the day," said a dealer at a private bank.

Dealers said the rupee was likely to trade in the range of 40.50-40.60 this week. In forwards, the six-month premia closed at 4.41 per cent (4.13 per cent) and the 12-month ended at 3.8 per cent (3.66 per cent).

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