Rupee ends flat at 39.28/29 per USD

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Mumbai, Jan 11: The Rupee today ended flat against the US Dollar at 39.28/29 on suspected intervention by the Reserve Bank of India (RBI), despite strong movements in the Indian equity market.

The partially convertible Indian currency traded in a tight range band between 39.26 and 39.30 per dollar in a very dull trading session in the inter-bank foreign exchange (Forex) market, dealers said. Dealers maintained that the suspected intervention by the central bank restricted the movement of local unit against the greenback.

Further, it might continue to place a check in the future sessions as the local equity market has observed high volatility this week, dealers added.

The six-month forward premium closed higher at 1.83 (1.71) per cent and annualized premium also ended lower at 1.33 (1.39) per cent.

Meanwhile, the apex 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 58.06/07 (57.59/60) against the Euro. It closed at 76.88/89 (77.06/07) per unit against the Pound Sterling. Against the Japanese Yen, the Rupee ended at 36.08/09 (35.73/74) per hundred units.

UNI

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