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Mumbai, Aug 7

The rupee was flat against the dollar on Thursday in a highly volatile market. The currency opened higher at 41.98 and closed at 42.07/08, the same as the previous day’s close. During the day, the rupee touched an intra-day high of 41.86/88.

In the initial period of trade, big corporate houses were selling dollars, which pulled the rupee up, said a dealer with a private bank. However, corporates resorted to buying dollars in the latter half of trade, due to which the rupee lost its gains, added the dealer. In the forward market, the 6-month premium closed higher at 4.59 per cent (4.49) and the 12-month ended at 3.74 per cent (3. 58). –

Our Bureau

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