Mumbai, Nov 20: The Rupee closed lower by two paise at Rs 39.35/36 against the US Dollar as compared to the previous close of 39.33/3450 per dollar in a fairly active forex market today.
The partially convertible Indian Rupee today started at 39.40/41 per dollar in early trade. With less movement, it traded in the range of 39.32 and 39.43 per dollar during the day trade, dealers said.
The Indian unit recovered its early losses and ended barely changed as a wave of dollar selling by exporters propped up the local unit in late trade, dealers added.
The six-month forward premium closed firm at 1.45 (1.42) per cent, while annualized premium ended marginally low at 1.20 (1.16) per cent.
The Reserve Bank of India (RBI) today fixed the reference rate at Rs 39.34 per US Dollar. The reference rate was down by five paise as compared to to the previous day's rate of Rs 39.29 per USD.
The Rupee traded strong against other major world currencies today. The Indian unit ended firm at 57.16/17 against the Euro. The Rupee closed stronger at 80.20/21 per unit, against Pound Sterling, while against the Japanese Yen, the Rupee ended at 35.65/66 per hundred units.