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Our Bureau

Mumbai, Nov. 1

The rupee strengthened against the dollar on Wednesday on good dollar supplies, a positive stock market and across the board weakness in the US currency. The domestic currency opened stronger at 44.92/93 and touched a high of 44.84/85 during day trade. It ended at 44.86/86 against Tuesday's close of 45.02.

"There were dollar supplies today. The positive stock market also aided the rupee," said a forex dealer. The dollar was weak against overseas currencies such as the pound and yen, but was strong against the euro, he added. Forward premia continued to be high. The six-month premium closed at 2.07 per cent (2.13 per cent) and the one-year closed at 1.83 per cent (1.89 per cent).

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Rupee gains on weak dollar

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