Rupee closed at 40.29 against dollar

Mumbai: The spot rupee is hoped to open in the range of 40.26-32 to a dollar. Robust foreign exchange inflows led to the spot rupee to open at 40.35/36 but subsequently increase to a high of 40.23/24 before closing for the day at 40.29 to a dollar. The annualised premium for six-month and one-year forward dollars closed at 0.58 per cent and 1.11 per cent respectively. The yield on the 10-year benchmark paper closed at 7.75 per cent against a closing of 7.82 per cent last week. Call rates closed at 0.30 per cent since funds were available much in excess of the demand.