Rupee gains a tad against dollar

The rupee appreciated a tad against the dollar on September 25, as the dollar supply matched demand. During the day the rupee traded in a 10-paise band and gained only towards the end of trade. The rupee opened on September 25 at 39.80 and closed at 39.74 against the previous close of 39.76/77. During the day, it was range-bound between 39.84 and 39.73/74. The rupee is likely to appreciate because there is not much demand for dollar right now. In the forwards market, the 6-month closed at 1.26 per cent (0.81 per cent) and the 12-month at 1.35 per cent (1.03 per cent).