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 Money & Banking - Short Term Instruments
Rupee tad firmer


Mumbai, Oct. 31

The rupee strengthened by about five paise against the greenback on Wednesday to close at 39.32, up from the previous close of 39.37/ 38. Foreign exchange dealers said that the rupee was range-bound throughout the day with the Reserve Bank of India protecting it at 39.34/35 levels. The home currency opened at 39.32/33 and saw an intra-day high of 39.31 and a low of 39.35, before ending the day at 39.32.

Dealers said that the rupee movement would depend on the Federal Reserve's decision on interest rates. In forwards, the six-month premia closed at 1.67 per cent (1.48 per cent) and the 12-month closed at 1.37 per cent (1.28 per cent). - Our Bureau

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