The rupee on Friday staged a rally to close at 42.72/74, gaining 7 paise over Thursday's close of 42.81. Forward premiums across the board went softer with near-terms easing by 3-4 paise and far terms by nearly 20 paise.
The six-month annualised forward cover finished sharply lower at 6.7 per cent compared to Thursday's 7.15 per cent.
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