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Mumbai, Sept. 25

The rupee gained marginally against the dollar on Tuesday, as the dollar supply matched demand. A dealer said that dollar inflows were lesser compared to yesterday. During the day the rupee traded in a 10-paise band and gained only towards the end of trade.

The rupee opened on Tuesday at 39.80 and closed at 39.74 against the previous close of 39.76/77. During the day, it was range-bound between 39.84 and 39.73/74. The rupee is likely to appreciate because there is not much demand for dollar right now, the dealer said. “We need to see what new level the RBI will let the rupee touch. Earlier, we thought it would be 40, but now the rupee has crossed that level,” he said.

In the forwards market, the 6-month closed at 1.26 per cent (0.81 per cent) and the 12-month at 1.35 per cent (1.03 per cent). “Today there was profit-taking in the premia market,” the dealer said. –

Our Bureau

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