The Hindu Business Line : Rupee trims losses

The rupee trimmed its intra-day losses and closed almost unchanged from the previous closes, tracking the recovery in the Sensex, said forex dealers. The rupee opened at 48.30/35 and fell to a low of 48.84/86 on month-end dollar demand and as the equity markets weakened. However, the rupee then recovered as the Sensex gained by 240 points and closed at 48.42/ 44, against Friday's close of 48.45. In the overseas market, the dollar weakened against other currencies. Volumes were lower because liquidity is tight ahead of the year-end closing, said a forex dealer with a public sector bank. In the forward premia, the six-month closed at 3.51 per cent (3.37 per cent) and the 12-month at 2.39 per cent (2.33 per cent). - Our Bureau

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