The Hindu Business Line : Rupee range-bound

The rupee was range-bound between 39.92 and 39.95 against the dollar on Thursday as the market awaited cues on interest rates from the monetary policy at the end of the month. The rupee opened at 39.93/94 and closed at 39.92/92, up by about four paise from the previous close of 39.96. There was no impact of the lower inflation figures, either on the spot rupee or the forward premia, as the market had factored it in, said the chief forex dealer with a public sector bank. & #8220;The market was expecting inflation to be at 7.2 per cent, but it was better at 7.14 per cent,” he said. The inflows into the domestic equity market also helped the rupee gain. In the forwards market, the six-month closed at 2.65 per cent (2.41 per cent) and the 12-month at 1.96 per cent (1.77 per cent).

— Our Bureau

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