Rupee Ends At 40.29 Against Dollar

Mumbai: The rupee was range-bound against the dollar on March 5 and closed flat. The rupee opened at 40.30/32 and reached a low of 40.35/36. Selling of dollars by foreign banks then pushed the rupee up to 40.22/23. At these levels there was some purchasing by oil companies and corporates, which brought the rupee down to 40.22/23. It finally closed at 40.29.30 against the previous close of 40.38. In the forward market, the six-month dollar was at a discount of 0.14 per cent (-0.36 per cent) and the 12-month premia was at 0.23 per cent (0.11 per cent). The cash dollar has eased a bit.