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Mumbai, July 3

The rupee gained by 10 paise on strong dollar supplies. The domestic currency opened at 40.60, touched an intra-day high of 40.44 before closing at 40.54/55, against the previous close of 40.65/66. “The home currency could not sustain the level of 40.44 due to RBI intervention in the forex market. Public sector banks were seen buying dollars in the market at those levels of the rupee,” said a dealer at a private bank. Dealers said RBI is expected to intervene a ctively in the market to restrict the rupee in the range of 40.60-40.70. The six-month forward premia is at 2.13 per cent (2.07 per cent) and 12-month premia remained unchanged at 2.26 per cent. —

Our Bureau

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