Rupee Ends 39.96 Against Dollar

The rupee remained firm against the dollar on April 16 as demand for the greenback was balanced by supply. It opened at 39.94/95 and ended the day at 39.96, unchanged from April 15 close at 39.96. Market participants hope the rupee to remain range-bound between 39.90 and 40-10. In the forward premia market, the 6-month closed at 2.41 per cent (2.22) and the 12-month at 1.77 per cent (1.65).