The rupee increased by 24 paise against the dollar on Aug 5 due to gains in the stock market and oil prices falling below $120 per barrel. The currency opened higher at 42.36/38 and ended at 42.24/25, stronger than the previous close of 42.48/ 49. In the forward market, the 6-month premium closed substantially lower at 3.93 per cent (4.22) and the 12- month ended at 3.23 per cent (3.54).
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