Rupee retreats, closes weaker at 39.35/36 per USD

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Mumbai, Oct 16 (UNI) The Rupee today closed weaker at 39.35/36 against the US currency as compared to its previous close of 39.30/31 on a marginal dip in equity markets and continued intervention by the Reserve Bank of India (RBI).

The local unit started lower at 39.34/36 per dollar at a less active Inter-bank Foreign Exchange (forex) market and traded in a narrow range of 39.30 and 39.3950 per dollar, before closing weaker in late trade, dealers said.

Dealers maintained that the slide in the rupee was due to weak stock markets as well as some dollar buying by the Central Bank.

Meanwhile, the RBI today fixed the reference rate at Rs 39.31 per dollar. The reference rate remained unchanged compared to yesterday's rate.


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