Amid high volatility in the interbank foreign exchange (Forex), the partially convertible Indian currency traded in a range band of 39.35 and 39.41 against the greenback, after opening firm in the early trade on fresh inflows. Nevertheless, Rupee was capped against dollar at around 39.40 level during the day on the reported intervention by the Reserve Bank of India (RBI), dealers said. However, the transaction trough the nationalised banks was almost nil due to one-day strike observed by the bank employees, dealers added.
Meanwhile, the Apex Bank today fixed the Reference Rate for the US dollar at Rs 39.40 and the Reference Rate for Euro at Rs 58.14. The corresponding rates for the previous day were Rs 39.43 and Rs 57.65 respectively.
The Indian unit ended weaker at 57.90 (57.83/84) against the Euro. Rupee closed weak at 77.85 (77.32/34) per unit against the Pound Sterling. However, the Rupee ended at 36.58 (36.97/98) per hundred units, against the Japanese Yen.