Rupee Ends At 40.27 Against Dollar

Mumbai: The rupee reached a fresh nine-year intra-day high of 40.20 backed by strong FII inflows into the domestic stock market. The rupee closed at 40.27 against the greenback on July 24, about two paise up from the previous close of 40.29. The home currency opened at 40.25/26, and saw an intra-day high of 40.20 before ending the day at 40.27. Unless there is some change in policy as far as foreign currency inflows are concerned, the rupee will continue to show substantial strength. In forwards, the six-month premia closed at 0.96 per cent (0.65 per cent) while the 12-month closed at 1.29 per cent (1.13 per cent).