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Our Bureau

Mumbai, May 23

Tracking the movement of the equity market, the rupee gained marginally against the US dollar. Trend in stocks had been the major factor affecting the rupee for the last two days, dealers said. On Tuesday, the rupee opened at 45.54/55 and fell to a low of 45.60/61, in tandem with the fall in the Sensex. But as the Sensex recovered, the rupee also gained to 45.48. It finally ended trade at 45.54/54, against the previous close of 45.57. "Unlike in the previous couple of sessions, today there was no intervention by the central bank as there was no need for it. There was some support buying interest whenever the rupee fell below 45.50 levels," a dealer with a private bank said. The forward premia market was also dull, with the six-month premium closing at one per cent (1.1 per cent) and the 12-month premium closing at 1.09 per cent (1.17 per cent).

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