Mumbai, Aug 21 (UNI) After a bearish phase for the last six days in the Forex market, the Rupee today recovered smartly by nearly 20 paise and ended at 43.50/52 against the U.S.dollar on sustained selling pressure on the dollar by exporters, dealers said.
Rupee strengthened at the end of the session, snapping a six-session slide as it got a boost from some broad weakness in the dollar, but a 3 percent drop in the local stock market and higher global oil prices led to gains.
It resumed low at 43.73 and later fluctuated in a broad range between 43.48 and 43.78 per dollar during the session. Finally, it ended at 43.50/52 per dollar, 0.4 percent stronger than Wednesday's close of 43.70/72. It had hit a 18-month low of 43.87 on Wednesday.
The Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 43.58 per unit, down by 14 paise, against yesterday's rate of Rs 43.72 per dollar.
The six-month and annualised forward premium was quoted higher at 3.85(3.07) per cent and 3.09 (2.63) per cent, respectively.
The Rupee ended the day stronger at 64.25/27 (64.43/45 ) per unit against the Euro. It closed at 80.96/98 ( 81.32/34 ) per unit against the Pound Sterling. Rupee ended at 40.09/10 (39.74/76) per hundred units against the Japanese Yen.
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