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Mumbai, Jan. 9

The rupee closed higher against the dollar on Friday on account of dollar inflows. There was a movement of Re 1 in intra-day trade. The currency opened at 49.20/22 and closed at 48.27/29, against Wednesday’s close of Rs 48.76/78.

The dollar inflows were either because foreign banks sold on behalf of their foreign institutional clients or because of ECB inflows, said a forex dealer with a private bank.

The forward premia market was comparatively calm with the six month closing at 2.36 per cent (2.3 per cent) and the 12-month at 1.88 per cent (1.82 per cent). Next week the rupee could see support at 48.25 and resistance at 48.55/60, said dealers. —

Our Bureau

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