The spot rupee opened at 39.50/51. Foreign exchange inflows and selling of dollars by companies led it to appreciate to 39.43/44 to a dollar. However, RBI purchased dollars to stem the rupee appreciation and it finally closed at 39.46/47 to a dollar. The annualised premia for six month and one year forward dollars closed at 1.94 per cent and 1.59 per cent respectively.
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