Rupee Closes Higher Against Dollar

The rupee opened at 42.94/95 against the dollar, which was also the intra day low, and closed at 42.84 on April 12 against the previous close of 42.87. Market participants expect the rupee to trade in the 42.75-43 range. In the forwards, the 6-month premia closed at 5.36 per cent (4.93 per cent) and the 12-month closed at 4.20 per cent (3.99 per cent).