The Hindu Business Line : Rupee gains 15 paise

The rupee appreciated by 15 paise against the dollar on a day that witnessed relatively thin trading volumes. The domestic currency opened higher at 42.66/68 and touched an intra-day low of 42.77/78. It closed at 42.67/68, against the previous close of 42.81/82. The markets are very cautious due to the political uncertainty and hence the low trading volumes, said a dealer with a private bank. The rupee gained due to the upswing in the stock market and low oil prices, added the dealer. The Sensex closed 214 points higher and the oil prices were hovering at $131 per barrel. Rupee’s movement tomorrow would depend on the outcome of the trust vote. If the Government loses the trust vote, the rupee could cross the 43-mark in one stroke. If the Government wins, bullish sentiments will prevail, said forex dealers. In the global market the dollar was relatively stable against other major currencies. In the forward market, the 6-month premium closed higher at 5.23 per cent (5.09) and the 12-month ended at 4.40 per cent (4.29).

— Our Bureau

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