Rupee ends flat at 39.50 against USD

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Mumbai, Feb 7: The Rupee today ended almost flat against the US Dollar at 39.50/52 from its previous close of 39.150/250 per dollar, despite weak cues in the Indian bourses.

Resuming the day at the same level, the partially convertible Indian currency followed the movements in the Indian equity market till mid-afternoon and fluctuated in a wide range-band against the greenback, between 39.46 and 39.52 per dollar. However, despite the local stock market plunged sharply by 612 points on strong outflows, the local unit ended flat in late trade, dealers said.

Meanwhile, the forward primia for six month closed lower at 1.24 (1.32) per cent and annualised primia closed at 1.28 (1.34) per cent. The Reserve Bank of India today fixed the reference rate at a lower level for the US dollar at Rs 39.48 as compared to previous Rs 39.60.

The Indian unit ended firm at 57.58/59 (57.73) against the Euro. Rupee closed firm at 76.81/82 (77.30) per unit against the Pound Sterling. The Indian unit ended the day flat at 37.06/07 (37.06) per hundred units against the Japanese Yen.

UNI

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