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Mumbai, Aug. 2

The rupee strengthened by about four paise on Thursday on modest gain in domestic stock markets. “There have not been any major FII pull out and they continue to be bullish,” said a dealer with a private bank. The home currency opened at 40.41/43 and saw an intra-day low of 40.47/48 and a high of 40.39 before ending the day at 40.41/42, up from the previous close of 40.45/46. Market participants expect the rupee to appreciate further. In forwards, the six-month premia closed at 1.95 per cent (1.89 per cent) and the 12-month at 1.91 per cent (1.84 per cent). —

Our Bureau

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