Rupee ends flat at 39.41/42 against USD

Mumbai, Jan 1 (UNI) The Rupee ended flat against US dollar at 39.41/42 in a less active inter-bank foreign exchange (Forex) market today.

The partially convertible Indian currency moved only a little on the first day of the year 2008, subdued by the absence of overseas cues as most markets in Asia were closed on account of the New Year. Inflows from offshore, therefore, were limited today, dealers said.

The local currency gained 12.3 per cent against the American greenback in the year 2007.

The six-month forward premium closed marginally lower at 1.56 (1.62) per cent, while annualized premium ended at 1.22 (1.24) per cent.

Meanwhile, the Reserve Bank of India (RBI) today fixed the reference rate at Rs 39.42 per dollar. The reference rate was down by one paise as compared to its previous close.

The Indian unit ended strong at 57.49/50 (57.96/98) against the Euro. It closed firm at 78.25/26 (78.91/92) per unit against Pound Sterling. While, against Japanese Yen, the Rupee ended at 35.29/30 (35.13/14) per hundred units.

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