After starting the day with a marginal negative gap at 40.46/48, the partially convertible Indian currency traded in a wide range of 40.37 and 40.57 per dollar, before closing the session on a flat note, dealers said. Dealers opined that the market is likely to remain volatile in future and will track the movements in the local stock market. The key indices of Indian bourses today sharply recovered from their previous lows, while gold prices came down from the level of USD 1000 per ten gram and crude oil prices softened today.
Meanwhile, the six-month premium was quoted higher at 1.37 (1.20) per cent and annualised premium closed at 1.06 (1.00) per cent. The Reserve Bank of India fixed the reference rate for the US dollar almost on flat note at Rs 40.45.
The Rupee today closed firm at 62.54/55 (62.64/65) against the Euro. It ended at 81.47/48 (81.90/91) per unit against the Pound Sterling and closed at 39.97/98 (40.04/05) per hundred units against the Japanese Yen.