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Our Bureau

Mumbai, June 14

The rupee was range bound against the US dollar on Wednesday and traded in a narrow range. There was neither too much dollar demand nor selling, said dealers. The rupee opened at 46.07/08 and touched a low of 46.09 before ending trade at 45.98/99, higher than the previous close of 46.03/04. "The stock market fall today has been on account of redemption by mutual funds. There has not been too much FII selling in the last few days. That is one positive factor for the rupee," said a forex dealer with a public sector bank.In the forward premia market the six-month closed at 0.86 (0.9 per cent) and the one-year closed at 1.04 per cent (1.09 per cent).

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