Mumbai, May 28: The Rupee today bounced back to close at 42.73/74 against the US Dollar, appreciating by 23 paise from its previous close of 42.96/98 as global crude oil prices came off record highs.
Indian currency, however, remained at lower level near 42.90 per dollar for the most part of the day but in late trading session it rose to a higher level to end firm against the greenback, dealers said. Softening of global crude prices and positive sentiments in local equity market helped the rupee to strengthen against dollar, dealers added. Reserve Bank of India (RBI) today fixed the reference rate for US Dollar at Rs 42.85 per unit, four paise lower from the previous day's level of Rs 43.89.
The six-month premium was quoted slightly lower at 2.44 (2.46) per cent and annualised premium closed almost flat at 1.78 (1.79) per cent.
Rupee ended the day firm at 66.74 (67.53/54) per unit against Euro. It closed at 84.17/18 (84.53/55) per unit against the Pound Sterling and ended at 40.65/66 (41.25/27) per hundred units against the Japanese Yen.