Psb Dollar Sales Lift Spot, Forwards Nose Up Too

The rupee appreciated by around three paise to a dollar to end at 48.8650/8700 as against the previous close of 48.90/91. Forward premiums edged up on specific interest for forward dollars.

The rupee opened at 48.90/91 to a dollar and firmed up to the 48.8800/8850 level. It hovered around the 48.8800-mark for sometime before selling pushed it higher to 48.8450. At this level the public sector banks (PSBs), presumably on behalf of the central bank, pressed dollar sales. The Indian unit closed the day at around 48.87 level.