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Mumbai, Nov. 1

The rupee ended almost flat at 39.31 against the dollar on Thursday due to sustained intervention by the Reserve Bank of India. The home currency opened at a fresh nine-year high of 39.24/26 and remained at those levels for a brief period but quickly gave up its gains on RBI’s intervention and closed at 39.31, one paise up the previous close of 39.32.

Foreign exchange dealers said that the rupee could trade in the range of 39.24-39.26 on Friday. In forwards, the six-month premia closed at 1.45 per cent (1.67 per cent) and the 12-month 1.20 per cent (1.37 per cent). –

Our Bureau

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