The Hindu Business Line : Rupee firmer by 11 paise

The rupee gained 11 paise against the dollar on Wednesday because of some activity in the non-deliverable forwards (NDF) market. The home currency opened strong at 39.82/84 and it ended the day at 39.79, up from the previous close of 39.90/91. The rupee saw an intra-day high of 39.71/72 when the Reserve Bank of India stepped in and was holding it firm at these levels. There was some FII selling which helped the rupee gain, said dealers. The dollar also weakened against oth er major currencies, said dealers.In forwards, the six-month premia closed at 0.20 per cent (0.79 per cent) and the 12-month closed at 0.48 per cent (0.77 per cent). –

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