The Hindu Business Line : Rupee range-bound

The fall in international oil prices and flat domestic inflation figures, helped the rupee gain by about 15 paise on Friday. There was also profit booking as importers sold dollars, said a forex dealer with a private bank. The rupee was range-bound between 42.70 and 42.86, as there was two-way movement.

The rupee opened higher at due to the fall in the prices of oil in the international market. This was followed by huge dollar selling and the rupee closed at 42.70/71, agai nst the previous close of 42.95/96. The dollar was steady to weak against other global currencies as well. In the forward market, the six-month premium closed at 1.80 per cent (1.84 per cent) and the 12-month closed at 1.38 per cent (1.41 per cent). Next week, the rupee is unlikely to cross 43, as the RBI was seen selling dollars in order to control the volatility, said forex dealers.

— Our Bureau

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