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Mumbai, Nov. 30

The rupee ended higher by 13 paise at 39.62 against the previous close of 39.75/76, due to good dollar inflows. According to dealers, there was good selling at all levels and no support for the dollar was seen by way of buying by nationalised banks. The rupee opened at 39.71/72 and touched a high of 39.59/60 before closing at 39.62. “Initially, we thought that there could be some support at 39.70, but nothing happened and the rupee continued to appreciate. A positive stock market also helped,” said the chief forex dealer with a private bank. However, it was not clear if the dollar inflows were due to exporter selling or inflows from foreign funds, he added. In forwards, the six-month premia closed at 1.03 per cent (1.15 per cent) and the 12-month ended at 0.85 per cent (0.93 per cent).

— Our Bureau

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