The Hindu Business Line : Rupee gains on dollar sales

The rupee gained 13 paise against the greenback on Wednesday backed by selling of dollars by exporters. The home currency opened at 40.31/32 and saw an intra-day low of 40.43 before ending the day at 40.32/33, up from the previous close of 40.45/46. "The rupee touched a low of 40.43 on dollar buying. It, however, recovered later during the day due to selling by exporters," said a dealer at a private bank. Foreign exchange dealers expect the rupee to trade in the range of 40.31/32. In forwards, the six-month premia closed at 0.97 per cent (0.79 per cent) and the 12-month closed at 0.86 per cent (0.78 per cent). - Our Bureau

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