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Mumbai, Nov. 19

The rupee closed almost unchanged at 39.3350/3550 against Friday’s close of 39.33. The domestic currency had opened stronger at 39.28/30 and touched a low of 39.35 and a high of 39.28 during day trade. A forex dealer with a private bank said that the RBI was present in the market and was seen buying dollars at the levels of 39.28/29. “Intervention by the central bank affected market sentiment,” he said. There was also some oil-related dollar buying on behalf of corporates, the dealer added. There is no reason for the rupee to weaken, as FII inflows are strong and the dollar is taking a knock against all other currencies, he said. In forwards, the six-month premia closed at 1.59 per cent (1.47 per cent) and the 12-month closed at 1.26 per cent (1.18 per cent). —

Our Bureau

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