Rupee rises further; Closes at 39.41/42

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Mumbai, Oct 9: The Rupee today closed at a new 9-year high at 39.41/42 per dollar, up by 3 paise from Monday's close.

Strong inflows continued to eye the high-performing Indian bourses, largely facilitating Rupee's upward course, said Forex dealers.

''In the coming two days, inflows in the range of 500-600 US dollars are expected to enter the forex market. This may boost the currency value further.'', said Mr Naveen Raghuvanshi, senior dealer with Development Credit Bank.

Rupee started lower at 39.53 against in morning as compared to the last close of 39.44/45 and was quoted at a day's low of 39.55 per dollar before staging a comeback.

Accepting all the 44 bids received, RBI today absorbed Rs 69,620 crore at the reverse repo Liquidity Adjustment Facility (LAF) window, according to the data released by the central bank.

In the forwards, six month premium ended at 1.03 (1.00) percent while the annualised premium ended at 0.98(1.030 percent.

Against euro, Rupee closed at 55.58/59 (55.60) per each unit, against Pound Sterling at 79.94/95 (80.45) per each unit, while Japanese currency (Yen) was quoted at 33.60/61 (33.58) per 100 hundred units each.


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