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Mumbai, Aug. 13

The rupee closed at 40.6350/6450 against the dollar on Monday, the same levels as on Friday. However, the pressure on the domestic currency eased thanks to a positive domestic equity market, said dealers. The rupee opened at 40.62/65 and touched a high of 40.53/54 in the first half, as foreign banks sold dollars. But later, it fell to end at the same levels as the previous close on dollar buying, dealers added.

“The pressure on the rupee was relatively less today because the Sensex closed higher and the Japanese Nikkei also closed higher. This week the rupee could be range-bound between 40.55 and 40.65,” said a forex dealer with a private bank. Among other global currencies, the yen continued to remain strong against the dollar, though the greenback was strong against the euro.

The forward premia were down slightly due to the bullish rupee, the dealer added. The six-month premia closed at 1.89 per cent (1.9 per cent) and the 12-month at 1.85 per cent (1.94 per cent). –

Our Bureau

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