The rupee gained by 25 paise against the dollar on July 17 due to gains in the stock market and fall in crude oil prices. The rupee opened higher at 42.95/97 and closed at 42.81/82, against the previous close of 43.07/08. During the day, it touched a high of 42.79/80. In the non-deliverable forward market, dollars were sold as participants were seen unwinding their positions as the rupee strengthened, added the dealer. In the global market the dollar was relatively stable against other major currencies. In the forward market, the 6-month premium closed lower at 4.78 per cent (5.10) and the 12-month ended at 4.14 per cent (4.42).
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