FOREX REPORT
The rupee yesterday held in a range against the dollar in two-way trade, dealers said. It closed at 42.52-53, compared to 42.4925-42.5020 on Thursday.
They added the forward rupee firmed as dollar premiums fell on softer rupee interest rates and receiving (buy-sell swaps) by the State Bank of India (SBI). Dollar premiums closed at: 1-month - 6.25 per cent (6.94 on Thursday); 3-month - 7.21 per cent (7.79); 6-month - 7.75 per cent (8.36); 9-month - 8.31 per cent (8.86); 12-month - 8.66 per cent (9.11).
The spot rupee opened at 42.51-53. Dealers reported thin trade. A public sector undertaking sold dollars but demand absorbed the supplies.
Cash-tom was .5/1 paise, tom-spot was .25/.5 paise, and cash spot was .75/1.5 paise.
The RBI mid-day reference rate was 42.53 against 42.47 on Thursday. Forward dollar premiums fell sharply on soft rupee interest rates and receiving by the SBI, dealers said. They said there was no significant corporate activity.
Premiums (in paise) closed at: Sep - 3-4; Oct - 27-30; Nov - 53-56; Dec - 83-86; Jan - 110-115; Feb - 139-144; Mar - 169-174; Apr - 202-207; May - 237-242; Jun - 271-276; Jul - 315-320; Aug - 340-345.
In the crosses, the rupee closed at 71.43 against the British pound, 25.10 against the German mark, and 32.18 per 100 Japanese yen.
