Rupee ends at 39.4250/4350 against USD

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Forex

Mumbai, Jan 2: The Rupee eased to close slightly weaker against the US Dollar today at 39.4250/4350 as compared to its previous close of 39.41/42 despite positive movements in the Indian equity market.

The partially convertible Indian currency remained almost flat during most of the day amid dull activities in the inter bank foreign exchange (Forex) market. However, it strengthened against the greenback to touched a level of 39.39 per dollar before finally closing slightly weaker in late trade. Rupee touched a intra-day low of 39.4450 per dollar during the day trade, traders said.

''The local unit was range bound, despite strong movements in the Indian equity market, on suspected intervention by the Reserve Bank of India (RBI),'' a senior dealer with a leading private bank said.

The six-month forward premium closed lower at 1.45 (1.56) per cent, while annualized premium ended low at 1.14 (1.22) per cent.

Meanwhile, the apex bank today fixed the reference rate at Rs 39.43 per dollar. The reference rate was down by one paise as compared to its previous close.

The Indian unit ended weak at 57.90/91 (57.49/50) against the Euro. It closed almost flat at 78.24/25 (78.25/26) per unit against Pound Sterling. Against Japanese Yen, the Rupee ended at 35.39/40 (35.29/30) per hundred units.


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