Earlier, it resumed firm at 40.04/06 compared to 40.21/23 the previous day due to scattered offers by local dealers. Dealers said Rupee rose sharply, tracking gains in local shares that were given a fillip from buoyant Asian equities, but record oil prices and a shortage of dollars in the system were expected to limit gains.
Later, the Rupee was range bound at 39.20 and 40.18/20 per dollar during the session, rising smartly from a close of 40.21/23 on Wednesday, when the currency had hit a five-month low of 40.25.
The Reserve Bank of India today fixed the reference rate for the US dollar at Rs 40.07, from its previous rate of Rs 40.15.
The exchange rates of Great Britain's Pound and Japanese Yen against the Rupee were given as Rs 77.9882 per pound and Rs 37.05 per 100 yen respectively.
Meanwhile, the six month and one year premium of Dollar was quoted higher at 0.07 (0.05) per cent and 0.08 (0.31) per cent respectively.
The Indian unit ended firm at 58.69/71/59.01 (58.99/59.01) against the Euro. Rupee closed high at 78.02/04 (78.08/10) per unit against the Pound Sterling. Similarly, it ended high at 36.84/86 (37.25/27) per hundred units against the Japanese Yen.