Rupee weakens by 34 paiss, ends at 43.00/01 per USD

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Mumbai, Aug 14 (UNI) The Rupee today closed weaker at 43.00/01, depreciating by 34 paise from its previous close of 42.64/65 per dollar on rise in oil prices.

The Indian unit extended the loss against the greenback for the third straight day as higher oil prices may widen the country's trade deficit, dealers said.

Oil rose to USD 117 per barrel today followed by sharp fall in Indian bourses, pushing the rupee to lower level. However, the central bank was reportedly selling dollars in the market through state-run banks in order to keep the Rupee pegged at 43 per dollar level, dealers opined.

Rupee opened weaker at 42.80/82 per dollar and traded in a wide range band between 42.76 and 43.03 per dollar following the negative sentiments in the local stock market.

The Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 42.82 per unit, up by 15 paise, against yesterday's rate of Rs 42.67 per dollar.

The six-month and annualised forward premium was quoted higher at 4.21 (4.15) per cent and 3.39 (3.34) per cent, respectively.

The Rupee ended the day stronger at 63.01 (63.51/52) per unit against the Euro. It closed at 80.47 (79.99/80.00) per unit against the Pound Sterling. Rupee ended at 39.15 (39.18/19) per hundred units against the Japanese Yen.


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