Rupee rises to 42.25

Taking a cue from crude oil prices, the spot rupee closed today at 42.25 after opening the day at 42.35-37 to a dollar.

Dealers said the demand from oil companies had come down Dealers said the demand for dollars from oil companies had come down substantially, tracking a fall in oil prices and pushing up the rupee.

Since there was no major selling of dollars and the spot rupee appreciated on the back of global cues, the annualised premia for forward dollars remained range-bound. The annualised premia for six-month and one-year forward dollars closed at 4.85 per cent and 4 per cent respectively.