Rupee Closes Firmer On Stock Market Movement - Sep 23, 2008

The rupee closed tad firmer tracking the stock market movement. The rupee opened at 45.55 and touched a high of 45.22/23. Nevertheless, the rupee closed lower at 45.44/45, against Friday''s close of 45.83. According to a forex dealer with a public sector bank, the rupee may hover between 45 and 46 and is not likely to cross 46. In the forward premia market the six-month closed at 1.66 per cent (1.38 per cent) and the 12-month at 1.38 per cent (1.15 per cent)a