Rupee stays firm; settles at 39.90 per dollar

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Mumbai, Sep 21 (UNI) The Rupee settled steady at 39.90 per dollar today, same as the previous closing level, as inflows stood reasonable and the Reserve Bank supported the high valued currency.

Earlier in morning, Rupee opened slightly weak at 39.92/93 per dollar as compared to the previous close of 39.89/90 per dollar in a a dull beginning which gradually picked up momentum later on.

During the day, the Rupee touched a high of 39.85 per dollar and a low of 39.97 per dollar before closing the day at firm margins.

According to sources, the Rupee was largely supported by the central bank during the day while a few corporates were also seen selling dollars.

''Rupee was in a tight range today and may retain these levels if the inflows continue to be favorable,'' a senior dealer said.

The six-month and annualised forward premia ended respectively at 1.20 per cent and 1.50 per cent.

Reserve Bank today fixed the reference rate at Rs 39.87 per US dollar, up by four paise as compared to the previous mark of Rs 39.91 per dollar.

Against the Euro, the Rupee ended at 56.05 per unit each. Against Pound Sterling, it ended at 80.45 per unit each, while against Japanese Yen, it closed at 34.58 per hundred units each.

UNI

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