Date:18/08/2006 URL: http://www.thehindubusinessline.com/2006/08/18/stories/2006081803430600.htm

Back Rupee strong against the dollar

Our Bureau

Mumbai, Aug. 17

For the second day in a row, the rupee gained against the US dollar on Thursday, thanks to FII inflows into the domestic equity markets. The currency opened at 46.51/52 and touched an intra-day of 46.43 due to dollar selling by exporters. It ended trade at 46.44/45, around 12 paise higher than the previous close of 46.57/58. FII inflows, dollar selling by exporters and some import cancellations helped the rupee strengthen, said a dealer with a private bank. The rupee also found support from the yen, which gained against the greenback. . In the forward-premia market, the six-month premium ended at 1.38 per cent (1.33 per cent) and the 12-month premium ended at 1.33 per cent (1.33 per cent).