Rupee ends flat at 39.27/28 per USD

Mumbai, Jan 10: The Rupee today ended almost flat against the US Dollar at 39.27/28 on suspected intervention by the Reserve Bank of India (RBI), despite strong movements in the Indian equity market.

The local unit traded in a tight range band between 39.26 and 39.30 per dollar in a dull inter-bank foreign exchange (Forex) market, dealers said. The six-month forward premium closed higher at 1.71 (1.63) per cent and annualized premium also ended high at 1.39 (1.36) per cent. Meanwhile, the central bank today fixed the reference rate at Rs 39.29 per dollar. The reference rate was steady compared to its yesterday's rate.

The Indian unit ended marginally weak at 57.59/60 (57.54) against the Euro. It closed at 77.06/07 (76.90) per unit against the Pound Sterling. Against the Japanese Yen, the Rupee ended at 35.73/74 (35.78) per hundred units.

UNI