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Mumbai, Sept. 7

The rupee gained about 10 paise against the dollar on Friday as it tracked the domestic stock market and on good dollar supplies. The rupee opened at about 40.75 and followed the stock market's movement for most of the day, said dealers. The rupee ended the day at 40.69 against the previous close of 40.80

"Though dollar flows are still strong, no one wants to take huge positions in the rupee," said a forex dealer with a private bank. The US non-farm payroll data, which is scheduled to be later today, is also critical for the rupee's movement next week, the dealer added.

Dollar inflows would continue to be strong as the central bank is also seen to be intervening in the market, said another forex dealer. "The RBI was earlier protecting the level of 40.70. But as the domestic currency has now crossed that level, now RBI will try to protect 40.60/55 levels," said the dealer.

In the forward premia market, the six-month premia closed at 1.29 per cent (1.10 per cent) and the 12-month closed at 1.44 per cent (1.32 per cent). - Our Bureau

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