The Hindu Business Line : Rupee tad higher

The rupee appreciated by about 10 paise against the dollar on Wednesday, in a volatile market. The currency opened at 49.85 and weakened to touch an intra-day low 50.11/12. It then staged a recovery to touch an intra-day high of 49.78 before closing at 50.01, against the previous close of 50.11/12. The rupee tracked the movements of the domestic equity indices leading to the seesaw movement, said a dealer with a private bank. There was lack of genuine demand for the dollar among the market participants, the dealer added. In the forward premia market, both the six-month and the one-year premium closed lower at 2.43 per cent (2.69) and 1.73 per cent (1.86), respectively. –

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