Rupee ends firm at 39.54/55 per USD

Mumbai, Dec 20: The Rupee ended firm at 39.54/55 per US Dollar, stronger by five paise from its previous close of 39.59/60, tracking the positive movements in the Indian equity market.

The partially convertible Indian unit resumed with a gain of about eight paise at 39.51/52 per dollar, on sustianed inflows of capital in the market. Later, the local currency moved in a range band of 39.51 and 39.59 per dollar in a fairly active inter bank foreign exchange (Forex) market. Though, trading was subdued on account of the year-end holiday season, dealers said.

Indian markets are closed on Friday. Dealers anticipate that oil firms may start buying dollars earlier than usual to meet monthly payments, as the year-end is approaching.

The six-month forward premium closed marginally lower at 1.52 (1.55) per cent, while annualized premium ended at 1.13 (1.15) (1.35) per cent.

Meanwhile, The Reserve Bank of India today fixed the reference rate at Rs 39.57 per US Dollar. The reference rate is up by 2 paise compared to its previous close.

The Rupee traded firm against other major world currencies today. The Indian unit ended firm at 56.57/58 (56.92) against the Euro, while it closed strong at 78.53/54 (79.31/32) per unit against Pound Sterling. Against Japanese Yen, it ended at 34.90/91 (35.05/06) per hundred units.

UNI