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Tuesday, Oct 30, 2007
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 Money & Banking - Forex
Rupee closes a tad higher

Mumbai, Oct. 29

The rupee was range-bound against the US dollar on Monday. It opened at 39.38/40 and closed at 39.42/43 against the Friday's close of 39.45. During the day, it touched a high of 39.36 and a low of 39.46. A forex dealer with a private bank said the dollar inflows were in tandem with the Sensex.

"There was more of interbank trading during the day than genuine corporate flows. Except towards the end of trade, when L&T and Reliance bought dollars," he said. In the overseas market, the dollar was low against the euro on expectations of a rate cut by the US Federal Reserve.

In the forwards premia market, the six-month closed at 1.11 per cent (1.16 per cent) and the 12-month ended at 1.12 per cent (1.08 per cent). - Our Bureau

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