Rupee closes firm at 39.31/32 per USD

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Mumbai, Nov 14: The Rupee today closed stronger by about eleven paise at 39.31/32 per US Dollar as compared to the previous close of 39.42/43 on surge in the stock market.

The partially convertible Indian Rupee today started almost firm at 39.36/37 per dollar in fairly active inter bank foreign exchange (Forex) market. However, despite strong inflows in the stock market, the local unit today traded in a closed range bound zone of 39.31 and 39.37 against the greenback due to reported intervention of the Central Bank, dealers said.

The six-month forward premium closed firm at 1.38 (1.20) per cent, while annualised premium ended marginally low at 1.14 (1.17) per cent.

Meanwhile, The Reserve Bank of India (RBI) fixed the reference rate at Rs 39.33 per US Dollar. The reference rate was up by six paise as compared to yesterday's rate of Rs 39.39 per USD.

The Rupee traded strong against other major world currencies today. The Indian unit ended weak at 57.67/68 (57.52) against the Euro. The rupee closed stronger at 81.20/21 (81.56/57) per unit, against Pound Sterling. Against the Japanese Yen, the Rupee ended at 35.44/45 (35.74/75) per hundred units.


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