Rupee ends 22 paise weaker at 39.77/78 per USD

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Mumbai, Oct 18: The Rupee today ended weaker by another 22 paise against the US Currency at 39.77/78 per dollar as compared to its previous close of 39.55/56 per dollar.

The partially convertible Indian currency made a firm start at 39.44/45 per dollar on the notes of strong opening of stock market.

Tracking the share index, rupee today traded in a wide range of 39.40 and 39.80 per dollar in a highly volatile foreign exchange (Forex) market, dealers said.

Dealers maintained the sensex today after hiting the all-time high 19,198.66, ended below 18K, which impacted the movement of the Indian currency against the US currency.

Yesterday, the Indian unit fell at an one-month low at 39.98, tracking the share index that plunged over 1700 points at start of trading, a dip of 9.15 percent, following curbs proposed by the Securities and Exchange Board of India (SEBI) on offshore instruments known as participatory notes to moderate capital inflows, dealers added.

The six months premium closed at 1.90 (1.31) per cent while annualised premium ended at 0.96 (1.08) per cent. Meanwhile, the Reserve Bank of India (RBI) today fixed the reference rate at Rs 39.47 per US dollar. The reference rate was up by 21 paise as compared to yesterday's rate of Rs 39.68 per USD.

The Indian currency against euro ended at 56.55 (56.10/11) per unit, against Pound Sterling, it closed firm at 81.00 (80.47) per unit, while Japanese currency (Yen) was quoted at 34.28 (33.78/79) per hundred units.

UNI

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