Rupee Closes Slightly Higher as Forward Premiums Climb
The rupee closed slightly stronger at 90.9050 per dollar as interbank selling met high demand. Forward premiums rose while regional currencies remained firm.
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The India rupee finished slightly stronger on Thursday, buoyed by positive momentum in regional currencies even as high demand for dollars at the daily reference rate limited further gains. The rupee ended the session at 90.9050 against the dollar, compared to its previous close of 90.9475. Traders observed that the demand at the reference rate, primarily due to the maturity of non-deliverable forward contracts, was met with significant selling from interbank players.
