Last week, rupee had hit a five month low of 40.20 per dollar on the account of excess demand by exporters and foreign banks, while there was shortage of supply. Dealers maintianed that the rupee is likely to remain rangebound between 39.90 and 40.05 per dollar in the future sessions in the backdrop of Union Budged ahead this week.
Meanwhile, the six month premium was quoted higher at 0.82 (0.24) per cent and annualised premium closed at 0.80 (0.50) per cent and the Reserve Bank of India today fixed the reference rate for the US dollar at Rs 39.91.
The Indian unit ended weaker at 59.32 (59.09/10) against the Euro. Rupee closed weaker at 78.70 (78.40/41) per unit against the Pound Sterling. It ended at 36.95 (37.01/02) per hundred units against the Japanese Yen.