Rupee weakens at 40.02 against USD

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Mumbai, Apr 8: The Rupee today slipped down to close at 40.02 against the US Dollar, weakening by six paise from its previous close of 39.96/97 on capital outflows from the Indian equity market. The partially convertible Indian rupee fell due to negative note in Indian bourses, though it hovered in a narrow band gap between 39.98 and 40.04 per dollar for most of the day, dealers said.

The Reserve Bank of India will hold its annual policy review on April 29. Experts are of the view that the central bank may tighten liquidity by raising interest rates or by increasing the cash reserve ratio. Meanwhile, the Reserve Bank fixed the reference rate for the USD today at Rs 40.02. The six-month premium was quoted almost lower at 1.91 (2.76) per cent and annualised premium ended lower at 1.45 (1.59) per cent.

The Rupee ended the session at 62.68 (62.76) against the Euro. It ended at 78.62 (79.50)) per unit against the Pound Sterling and closed at 38.98 (38.93) per hundred units against the Japanese Yen.


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