Rupee Strengthens 10 Paise Against Dollar

Mumbai: The rupee appreciated by 10 paise on strong dollar supplies. The domestic currency opened at 40.60, touched an intra-day high of 40.44 before closing at 40.54/55, against the previous close of 40.65/66. The home currency could not sustain the level of 40.44 due to RBI intervention in the forex market. Dealers said RBI is expected to intervene a ctively in the market to restrict the rupee in the range of 40.60-40.70. The six-month forward premia is at 2.13 per cent (2.07 per cent) and 12-month premia remained unchanged at 2.26 per cent.