The partially convertible Indian Rupee traded in a wide range band of 39.35 to 39.59 per dollar before ending at ease against the greenback. There was strong outflow as the benchmark indices in the local stock market witnessed a strong selling pressure across the sector on setback in the global market, dealers said. The six-month forward premium closed lower at 1.77 (1.99) per cent, while annualised premium ended at 1.52 (1.65) per cent.
Meanwhile, the Reserve Bank of India today fixed the reference rate at Rs 39.38 per dollar. The reference rate declined by 11 paise as compared to the Friday's rate of Rs 39.27 per dollar.
The Indian unit ended firm at 57.25/26 (57.52) against the Euro, while it closed weaker at 77.07/08 (76.92) per unit against the Pound Sterling. Against the Japanese Yen, the Rupee ended at 37.36/37 (36.60/61) per hundred units.