The Hindu Business Line : Rupee range-bound

The rupee was range-bound against the dollar on Wednesday in the absence of major demand or selling pressure. During the day, the domestic currency was traded between 42.91 and 42.90 levels, said dealers. It opened at 42.86 and closed at 42.89, almost unchanged against the previous close of 42.88/89.

“There was some dollar selling by foreign banks. But not much demand was seen from importers,” said a forex dealer with a private bank. There was also not much of an impact of the fall in the Sensex on the rupee’s movement, he said. In the global market, the dollar was initially weaker against foreign currencies like the euro and pound, but it stabilised later. The forward premia ended firm with the six-month closing at 2.82 per cent (2.4 per cent) and the 12-month premia closing at 2.53 per cent (2.27 per cent).

— Our Bureau

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