The Hindu Business Line : Rupee flat against dollar

The rupee was flat against the dollar on Monday as demand from oil companies were met by inflows into the domestic stock market. The rupee opened at 42.88/89, but fell to close at 42.95/96, almost unchanged from the previous close of 42.94/95. The dollar buying by oil companies and importers led to the rupee losing the gains made in the early part of trade, said a forex dealer with a private bank. But the rise of 200 points in the stock market helped stem the rupee’s losses. “Factors like oil-related buying and high commodity prices are affecting the rupee,” the dealer said. In the forward premia market, the six-month premia closed at 2.95 per cent (3.26 per cent) and the 12-month at 2.6 per cent (2.77 per cent).

— Our Bureau

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