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Mumbai, Sept 12

The rupee further strengthened against the greenback on the back of strong dollar inflows. The domestic currency opened at 40.51/52 and rose during the day to finally end at 40.44/45, against Tuesday’s close 40.56. Dealers said the rupee appreciated as banks continued to sell dollars during the day. “The sentiment is negative against the dollar as speculation continues to gain ground that the US Fed will cut interest rates in the Federal Open Market Committee meeting scheduled for September 18,” said a dealer at a private bank. In the forward premia market, the 6-month closed at 1.60 per cent (1.58) and the 12-month ended at 1.70 per cent (1.71).

— Our Bureau

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