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The rupee appreciated by 14 paise to close at a oneweek high of 45.16/17 against the US currency on the back of a smart rally in local equities amid a weak dollar overseas. Fresh capital inflows and sale of dollars by exporters too attributed to the rupee gain. FIIs, once again, turned net buyers and they bought shares worth $269.95 billion on May 26 as per SEBI data. The benchmark six-month forward dollar premium payable in October settled higher at 120-121 paise from 117-119 paise previously. The RBI has fixed the reference rate for the dollar at Rs 45.21 and the euro at Rs 64.40.
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