Rupee hardens; gilts rise
Mumbai: The rupee closed stronger by around 10 paise at 46.5950/6050 per dollar on Wednesday, as compared with Tuesday's close at 46.70. Dealers attributed the rupee recovery to consistent dollar supplies in the market, and the weakening of the dollar against international currency majors. Rupee opened the day at 46.5750/5850. Market players expect the currency to continue its uptrend against the dollar in the near term. eanwhile forwards inched up slightly, with the six-month premium ending at 2.47 per cent (2.35 per cent) and the premium for one-year ending at 2.42 per cent (2.27 per cent). Bond prices moved in a 10-12 paise range in the Government securities market on Wednesday.
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