The partially convertible Indian currency traded in a tight range band of 39.22 and 39.44 per dollar as it received strong support from PSU banks in interbank foreign exchange (Forex) market, dealers said. The six-month forward premium closed marginally higher at 1.83 (1.63) per cent, while annualized premium ended at 1.35 (1.22) per cent.
Meanwhile, the Reserve Bank of India today fixed the reference at Rs 39.43 per US Dollar. The reference rate was up by four Paise compared to its previous close of Rs 39.39.
The Rupee traded weak against other major world currencies today. The Indian unit ended weak at 57.14/15 (56.90/91) against the Euro, while it closed at 78.37/38 (78.10/11) per unit against Pound Sterling. Against Japanese Yen, it ended at 34.45/46 (34.54/55) per hundred units.