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Mumbai, Dec 26

The rupee rose slightly against the dollar tracking the gains in the stock market. The domestic currency moved in a narrow range through the day. It opened at 39.41/42, touched an intra-day high of 39.38 and ended the day at 39.41/42, against the previous close at 39.44/45. Dealers said that continuous dollar buying by nationalised banks trimmed the gains made by the rupee. “There were strong dollar inflows during the day but possible intervention by the RBI through public sector banks curbed the appreciation of the rupee,” said a dealer at a private bank. Market participants said that low volumes on account of the year-end will keep the rupee in the range of 39.38 and 39.44. In forwards, the 6-month closed at 1.88 per cent (1.69) and the 12-month ended at 1.37 per cent (1.25).

— Our Bureau

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