It opened slightly high at 39.40/41 and later fluctuated in a narrow range between 39.36 and 39.39 during the sesssion. Rupee ended steady with the market mulling over policy signals after RBI left rates unchanged, though the sentiment may get a fillip if the U.S. Federal Reserve cuts rates on Wednesday. The local unit traded range-bound during the day amid choppy trading session in the inter-bank foreign exchange (Forex) market.
Rupee touched an intra-day low at 39.40/41 per dollar, at the level it resumed the day, dealers said. However, dealers expect the rupee to appreciate in the future session on speculative inflows after the recent rate cut by the US Fed.
Meanwhile, the forward primia for six months closed higher at 2.25 per cent against 2.15 per cent on the previous day, similarly, the one year primia closed firm at 1.88 per cent compared to 1.77 per cent.
The Indian unit ended weaker at 58.15/17 (57.94/95) against the Euro. Rupee closed weak at 78.33/34 (77.99) per unit against the Pound Sterling. However, the Rupee ended at 36.84/85 (36.99) per hundred units, against the Japanese Yen.