Rupee ends at 39.40/41 per USD

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Mumbai, Jan 3: The Rupee eased to close slightly stronger against the US Dollar today at 39.40/41 as compared to its previous close of 39.4250/4350 per dollar amid high volatility in the market.

The partially convertible Indian currency traded in a wide range of 39.3750 and 39.4750 per dollar, before ending with a slight gain against the US unit in a fairly active inter bank foreign exchange (Forex) market, tracking the movements in the Indian equity market, traders said.

''After many sessions of flat trading, the local unit seemed to be extremely volatile throughout the day as there was good inflows in the Indian market, However, it ended slightly stronger against the dollar in the late trade 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 higher at 1.53 (1.45) per cent, while annualized premium ended higher at 1.21 (1.14) per cent.

Meanwhile, the apex bank today fixed the reference rate at Rs 39.45 per dollar. The reference rate was down by two paise as compared to its previous close of Rs 39.43 per dollar yesterday.

The Indian unit ended weak at 58.15/16 (57.90/91) against the Euro. It closed almost firm at 77.84/85 (78.24/25) per unit against the Pound Sterling. Against Japanese Yen, the Rupee ended at 36.33/34 (35.39/40) per hundred units.


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