Mumbai Nov 22: The Rupee closed lower by fourteen paise at Rs 39.53/54 against the US Dollar as compared to the previous close of 39.39/40 per dollar in a fairly active forex market today.
The partially convertible Indian Rupee today started at 39.43/45 per dollar in early trade. With less movement, it traded in the range of 39.53 and 39.54 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 lower at 1.20 (1.16) per cent.
The Reserve Bank of India (RBI) today fixed the reference rate at Rs 39.41 per US Dollar. The reference rate was down by two paise as compared to yesterday's rate of Rs 39.39 per USD.
The Rupee traded stronger against other major world currencies today. The Indian unit ended firm at 58.59/60 against the Euro. The Rupee closed stronger at 81.54/55 per unit, against Pound Sterling, while against the Japanese Yen, the Rupee ended at 36.35/36 per hundred units.