Rupee gains nearly 26 paises, closes at 42.8150/8250 per USD

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Mumbai, July 17 (UNI) Extending previous gains, the Rupee today appreciated by nearly 26 paise against the US Dollar to close firm at 42.8150/8250 on strong global cues after a sharp fall in oil prices and fresh inflows in the stock market.

The partially convertible Indian Rupee extended gains as oil prices were steady near USD 134 a barrel and stock market surged sharply, dealers said.

Rupee resumed the day on a firm note at 42.97/98, gaining ten paise against the previous close of 43.07/08 per dollar and pared the gains riding on the back of Sensex, which surged over 536 points. It hit an intraday high at 42.79 per dollar before closing in the late trade.

The Reserve Bank of India (RBI) today fixed the reference rate for US Dollar at Rs 42.94 per unit, down 23 paise as compared to previous rate of Rs 43.17 per dollar.

The six-month and annualised forward premium was quoted lower at 4.80 (5.13) per cent and 4.44 (4.48) per cent, respectively.

Rupee ended the day firm at 67.65 (68.31) per unit against the Euro. It closed at 85.45 (86.08) per unit against the Pound Sterling, while Rupee ended at 40.40 (41.25) per hundred units against the Japanese Yen.

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