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Mumbai, Jan. 7

The rupee appreciated due to strong inflows and touched a high of 39.20 during day trade. According to a forex dealer, the rupee would have appreciated more if the RBI had not intervened at that level. "The sentiment is still in favour of the rupee. The dollar is weak across the board. There are fresh flows from large IPOs waiting to come in such as the Reliance Power IPO," said the dealer. On Monday, the rupee opened at 39.33/34, the same as Friday's close and touched a high of 39.20/21 during the day. The RBI stepped in at these levels and the rupee ended at 39.29/30, four paise higher from the previous close. The rupee had last touched 39.18 on November 1, 2007. The dollar did not see much movement against other global currencies. In the forward market, the six-month premium closed at 1.74 per cent (1.82 per cent) and the 12-month ended at 1.39 per cent (1.38 per cent). - Our

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