FOREX REPORT
The spot rupee held in a range against the dollar yesterday amid lacklustre corporate demand, dealers said. It closed at 42.545-575 against 42.55-56 on Monday.
The forward rupee firmed also, barely moved on low-key inter-bank activity, they added. Dollar premiums closed at: one-month - 8.19 per cent (7.90 per cent on Monday); three-month - 8.09 per cent (8.28 per cent); six-month - 8.74 per cent (8.71 per cent); nine-month - 9.04 per cent (9.15 per cent); 12-month - 9.08 per cent (9.41 per cent).
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Spot rupee opened at 42.545-575. Inflows were minimal on account of Monday being a holiday in New York. The State Bank of India (SBI) also was not noticed actively bidding for the dollar. Nominal corporate demand held the rupee between 42.54 and 52.5675.
The RBI mid-day reference rate was 42.56 against 42.55 on Monday. Cash-tom and tom-spot quoted at .25/.75 paise, and cash spot at .5/1.5 paise.
The forward dollar premiums came-off slightly for most maturities on moderate inter-bank receiving (swap sales). Dealers said sentiments of easy liquidity in the money markets kept rates low.
Premiums (in paise) closed at: September - 15-17; October - 45-48; November - 75-78; December - 106-109; January - 139-143; February - 169-174; March - 203-207; April - 240-245; May - 275-280; June - 310-317; July - 346-352; August - 380-386.
In the crosses, the rupee closed at 70.50 against the pound, 24.56 against the mark, and 32.01 per 100 yen.