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Dull market keeps rupee in a narrow range; Rs 42.82 vs $

The interbank foreign exchange market remained dull as the rupee traded in a narrow range against the dollar today.

Opening at Rs 42.83/85 to the US $, the rupee touched an intra-day high of Rs 42.78 on dollar-selling during the day. The Indian unit, finally, settled at Rs 42.81/82 from the previous close of Rs 42.83/85.

''The rupee oscillated on varying demand during the day,'' quipped a dealer. The forwards came down with the monthly premium (in paise) closing at 15-16 for April, 35-37 for May, 57-59 for June, 78-80 for July, 102-105 for August, 126-129 for September and 154-157 for October.

The six-month annualised premia ended at 6.09 per cent. Cash/spot ended at 2.25-2.50 paise, cash/tomorrow at 0.375-0.50 paise and tomorrow/spot at 2.00-2.25 paise.

The rupee ended at Rs 69.30 a pound sterling, Rs 35.89 a yen and Rs 45.66 a euro.

The Reserve Bank of India fixed the reference rate at Rs 42.82 per US dollar as against the previous fix of Rs 42.95.

UNI

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