Rupee Appreciated On Dollar Sales

Mumbai: The rupee appreciated 13 paise against the greenback on March 12 backed by selling of dollars by exporters. The rupee opened at 40.31/32 and saw an intra-day low of 40.43 before ending the day at 40.32/33, up from the previous close of 40.45/46. The rupee touched a low of 40.43 on dollar buying. It, however, recovered later during the day due to selling by exporters. Foreign exchange dealers expect the rupee to trade in the range of 40.31/32. In forwards, the six-month premia closed at 0.97 per cent (0.79 per cent) and the 12-month closed at 0.86 per cent (0.78 per cent).