Rupee Up 4 Paise Against Dollar

Mumbai: The rupee appreciated by about four paise on August 2 on modest gain in domestic stock markets. The home currency opened at 40.41/43 and saw an intra-day low of 40.47/48 and a high of 40.39 before ending the day at 40.41/42, up from the previous close of 40.45/46. Market participants expect the rupee to appreciate further. In forwards, the six-month premia closed at 1.95 per cent (1.89 per cent) and the 12-month at 1.91 per cent (1.84 per cent).