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Mumbai, Sept. 19

The rupee appreciated by 58 paise and crossed the 46 level on positive sentiments as the domestic stock market surged, said forex dealers. The rupee opened stronger at 46.25 as the domestic equities market and those in South East Asia opened higher. The rupee then gained following the surge in the equities to touch the day’s high of 45.75. It closed at 45.83, against the previous close of 46.41/42. “Once the rupee touched 45, there were hardly any dollar buyers . The major sellers today were foreign banks. There were also talks of some inflows on account of FDI,” said the chief forex dealer with a private bank. The dollar was strong against other currencies in the global market as compared with yesterday. But the rupee was stronger on positive sentiments arising out of the stock market gains. Next week, the rupee could see levels of 45.75-45.50, the dealer said. In the forward premia market, the six-month closed at 1.38 per cent (0.63 per cent) and the 12-month closed at 1.15 per cent (0.63 per cent).

— Our Bureau

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