The weakness in the housing market spells more trouble for the US economy and the dollar because consumers are now dealing with the triple blow of falling housing market values, a deteriorating labour market and rising prices. a dealer said. Meanwhile, the six-month premium was quoted higher at 1.80/82 (1.60/62) per cent and annualised premium appreciated at 1.30/32 (1.28/30) per cent.
The Reserve Bank of India fixed the reference rate for the USD today at Rs 40.14, up by two paise as compared to yesterday's rate.
The Rupee closed weaker today at 62.91/83 (62.30/32) against the Euro. It ended at 79.90/92 (79.70/72) per unit against the Pound Sterling and closed at 40.30/32 (39.90/92) per hundred units against the Japanese Yen.