Re Ends Stronger At 40.83/$

Mumbai: The rupee strengthened by 16 paise against the greenback backed by good supplies and closed at 40.83 on June 28, up from the previous close of 40.99/41. The domestic currency opened a bit weaker at 40.95 and saw an intra-day low of 41 before ending the day at 40.83. Market participants exp ect the rupee to trade in the 40.75-41.10 range this week. In forwards, the six-month premia closed at 2.91 per cent (3.34 per cent) while the 12-month closed at 2.83 per cent (3.03 per cent).