The rupee bounced back from its early lows and closed dearer by four paise at 48.56/57 against the US dollar on Tuesday. After touching a five-week low of 48.94/95 against the dollar in the early trade, the rupee later traded in line with the equity market, rebounding to 48.50 level during afternoon trade. The rupee resumed weak at 48.85/86 a dollar against its previous close of 48.60/61 a dollar.
According to the provisional figures, the FIIs also were net sellers in equity on June 22. The forex dealers said that the rupee drew support as the dollar turned weak against the major world currencies during the day.
The Reserve Bank of India fixed the reference rate for the US dollar at Rs 48.91 and for the euro at Rs 67.75. The rupee premiums on the forward dollar eased on sustained receiving by exporters.
The benchmark six-month forward dollar premium payable in November closed at 58-60 paise, down from 59-61 paise on Monday and the far-forwards maturing in May also ended lower at 109-111 paise from 110-112 paise previously.
According to the provisional figures, the FIIs also were net sellers in equity on June 22. The forex dealers said that the rupee drew support as the dollar turned weak against the major world currencies during the day.
The Reserve Bank of India fixed the reference rate for the US dollar at Rs 48.91 and for the euro at Rs 67.75. The rupee premiums on the forward dollar eased on sustained receiving by exporters.
The benchmark six-month forward dollar premium payable in November closed at 58-60 paise, down from 59-61 paise on Monday and the far-forwards maturing in May also ended lower at 109-111 paise from 110-112 paise previously.
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