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Our Bureau

Mumbai, June 5

The rupee ended flat to close at 40.52/53 against the previous close of 40.53/54 on RBI's continued intervention. "There was good dollar supplies in the market," said a dealer with a private bank. The domestic currency opened at 40.53/55 and saw an intra-day low of 40.57 before ending the day at 40.52/53.

"The RBI was seen buying dollar through state run banks to cap the strengthening of rupee," said the dealer. He felt that the rupee will be range bound and would continue to remain at the 40.50 levels as long as the central bank continues to intervene in the forex market. In forwards, the six-month premia closed at 2.42 per cent (2.33 per cent) while the 12-month closed at 2.62 per cent (2.51 per cent).

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