FOREX REPORT
The rupee held in a range against the dollar yesterday on lacklustre corporate demand, foreign exchange dealers said.
It ended the week at 42.49-50 compared with 42.50-51 on Thursday.
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The forward rupee also strengthened despite corporate month-end demand, they added. Dollar premiums closed at: one-month - 7.34 per cent (8.01 per cent on Thursday); three-month - 7.46 per cent (7.65 per cent); six-month - 7.97 per cent (8.18 per cent); nine-month - 8.45 per cent (8.56 per cent); 12-month - 8.75 per cent (8.78 per cent).
Spot rupee opened at 42.52-54. Dealers reported nominal corporate demand and low trade volumes. The rupee showed signs of firming beyond 42.49, but the State Bank of India (SBI) actively brought dollars in several rounds, dealers said. SBI demand contained the rupee's appreciation, holding it steady around the 42.5-mark.
Cash-tom was 1.25/1.5 paise, tom-spot .25/.5 paise, and cash spot 1.5/2 paise.The RBI mid-day reference rate was 42.51 against 42.51 on Thursday.
Dollar premiums continued to soften on exporter supplies despite corporate month-end paying (sell-buy swaps).
Premiums softened by six-seven paise across maturities.
Premiums (in paise) closed at: October - 25-28; November - 50-53; December - 77-81; January - 106-110; February - 136-140; March - 166-170; April - 199-204; May - 232-237; June - 265-270; July - 298-303; August - 330-335; September - 368-374. In the crosses, the rupee closed at 72.36 against the pound, 25.48 against the mark, and 31.68 per 100 yen.