Rupee ends flat at 39.275/285 aginst USD

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Mumbai, Jan 15 (UNI) The Rupee today ended almost flat at 39.275/285 against the US Dollar as compared to its previous close of 39.28/29 on suspected intervention by the Reserve Bank of India.

Rupee traded in a tight range band between 39.26 and 39.28 per dollar amid choppy trade in the inter-bank foreign exchange (Forex) market, dealers asserted.

According to dealers, the RBI bought about USD 5 billion over the past two weeks in an effort to prevent the appreciation of local unit agaist the dollar.

The Apex bank bought about USD 64 billion in the first 10 months of 2007, dealers said adding, it has been active since then in keeping the rupee weaker than 39.20 per dollar.

The six-month forward premium closed at 2.06 per cent, while annualized premium ended at 1.77 per cent.

Meanwhile, The Indian unit ended firm at 58.21/22 (58.30) against the Euro, while it closed weak at 77.09/10 (76.80) per unit against the Pound Sterling. Against the Japanese Yen, the Rupee ended at 36.35/36 (36.35) per hundred units.

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