Rupee Ends At 39.35 Against Dollar

Mumbai: The rupee increased on expectations that the US Federal Reserve likely to cut interest rates by 25 basis points at its meeting on December 11. The rupee opened flat at 39.40 and closed at 39.35, up five paise from the earlier close of 39.40. The market is bullish right now and has already factored in a 25 basis point rate cut. In forwards, the six-month premia closed at 1.79 per cent (1.61 per cent) and the 12-month closed at 1.34 per cent (1.21 per cent).