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Mumbai, Nov 6

The rupee remained range-bound and closed at 39.31/32 against the greenback on Tuesday. The home currency opened at 39.31/32 and saw an intra-day high of 39.2550 before ending the day at 39.31/32. “The RBI was constantly intervening in the forex market, buying dollars through state-run banks in order to cap the appreciation of rupee. However, when it intermittently went off the market, the rupee showed some gains,” said a dealer with a private bank. Foreign exc hange dealers said that the exporters were seen selling at certain levels. Market participants expect the rupee to trade in the range of 38.80-39 levels this week. In forwards, the six-month premia closed at 1.52 per cent (1.48 per cent) and the 12-month at 1.21 per cent (1.15 per cent).

— Our Bureau

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