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Mumbai, July 17

The rupee remained range bound on Tuesday. The domestic currency closed at 40.36/37 against the previous close of 40.35/37. It opened at 40.36/37 and saw an intra-day high of 40.33 backed by strong dollar supplies before ending the day at 40.36/37. “There was strong dollar supply into the domestic market,” said Mr V. Rajagopal, Head-Forex Treasury, Kotak Bank. Market participants expect the rupee to strengthen further this week. In forwards, the six-month premi a closed at 1.41 per cent (1.77 per cent) while the 12-month premia closed at 1.65 per cent (1.86 per cent). —

Our Bureau

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