Rupee ends almost steady at 39.37 per USD

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Mumbai Dec 12: The Rupee today closed almost steady at 39.37/38 against the US Dollar from its previous close of 39.36 per dollar amid choppy trade in the market.

The partially convertible Indian unit resumed weaker today at 39.40/42 per dollar on weak global cues and negative movements in the Indian stock market in the early trading sessions. Rupee traded at a range band of 39.35 and 39.42 per dollar in a less active interbank foreign exchange (Forex) market after cut in rates by the US Federal Reserve, dealers said.

The six-month forward premium closed low at 1.76 (1.84) per cent, while annualized premium ended at 1.30 (1.36) per cent.

Meanwhile, the Reserve Bank of India (RBI) today fixed the reference rate at Rs 39.36 per US Dollar. The reference rate was unchanged as compared to yesterday's rate of Rs 39.36 per USD.

A mixed trend was observed in the Rupee's trade today against other major world currencies. The Indian unit ended firm at 57.81/82 (57.60) against the Euro, while it closed firm at 80.47 (80.50) per unit against Pound Sterling. Against the Japanese Yen, it ended at 35.44/45 (35.08) per hundred units.

UNI

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