The Hindu Business Line : Rupee rises marginally

The rupee appreciated by about three paise as the Sensex and other Asian markets gained. The rupee opened lower at 40.60, due to worries of high oil price, but gained to close at 40.45/46, against the previous close of 40.48/49. While there were routine dollar inflows, the outflows have slowed down, said a forex dealer with a private bank. "There was not much dollar buying as speculators are no longer buying dollars. There is only demand based dollar buying," the dealer said. Oil, which had touched a record high of $108 during the day, is the only pressure for the rupee, right now, he added. In the overseas market, the dollar was weak against other currencies. In the forward premia market, the six-month closed at 0.79 per cent (0.77 per cent) and the 12-month closed at 0.78 per cent (0.78 per cent). - Our Bureau

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