Rupee falls by 14 paise, ends at 43.29/30 per USD

Written by:
Subscribe to Oneindia News

Mumbai, July 7 (UNI) The Rupee today fell by 14 paise to close at 43.29/30 against the US Dollar amid high demand and low supply of dollars in a volatile Forex market.

The partially convertible Indian currency resumed the session almost flat at 43.13/14 from previous close of 43.15/16 per dollar and thenafter traded in wide range band between 43.09 and 43.31 per dollar amidst volatility bouts, before closing weak in late trade, dealers said.

Inter bank foreign exchange market (Forex) today witnessed a huge gap between demand and supply of dollar as high demands were placed by the foreign banks and oil companies, a senior dealer with a leading private bank said.

Dealers also suspected Reserve Bank's intervention to support the Indian unit at the level of 43.30 per dollar.

Meanwhile, Indian bourses shed their early gains to close with marginal gains in late trade.

RBI today fixed the reference rate for US Dollar at Rs 43.12 per unit, down nine paise from yesterday's close of 43.21 per USD.

The six-month and annualised premium was quoted lower at 4.41 (4.49) per cent and 3.92 (3.92) per cent respectively.

However, Rupee ended the day weaker at 67.76/77 (67.65/66) per unit against Euro. It closed at 85.12 (85.51/52) per unit against the Pound Sterling and ended at 40.21/22 (40.44/45) per hundred units against the Japanese Yen.


Please Wait while comments are loading...