Mumbai, Apr 17: The Rupee today inched higher to close at 39.92/93 against the U S Dollar from previous close of 39.95/96 on firm note in the Indian equity market. The Indian rupee moved higher, supported by capital inflows into the Indian equity market on positive sentiments due to decline in annual Inflation, dealers said.
The partially convertible Indian rupee touched an intra-day high of 39.91 per dollar and a low of 39.98 per dollar before ending firm in a fairly active inter bank foreign exchange market. However, it traded in a rangebound gap, dealers added. The market will be closed tomorrow on account of Mahavir Jayanti.
Meanwhile, the Reserve Bank of India (RBI) fixed the reference rate for the USD flat at Rs 39.94, down by two paise as compared to previous Rs 39.96. The six-month premium was quoted at 2.40 per cent and annualised premium was at 1.75 per cent.
The local currency ended the session at 63.40 (63.61) against the Euro. It closed at 78.79 (78.93/94) per unit against the Pound Sterling. The local unit closed at 39.39 (39.40) per hundred units against the Japanese Yen.