Rupee falls near to 21-month low at 44.64/65 per USD

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Mumbai, Sep 5 (UNI) The Rupee today reverted to weaker end against the greenback to close near to a 21-month low at 44.64/65, depreciating about 30 paise, from its previous close of 44.35/36 per dollar on strong outflow due to weak global sentiments.

The partially-convertible currency fell sharply on speculation that economic slowdown in major global economies including the US and Europe would shun the inflows in emerging-economies especially in Asian markets, dealers said.

On the other hand, the US unit rallied higher against some other major currencies coupled with sharp downfall in local bourses also created a negative pressure on rupee, dealers asserted.

Meanwhile, the Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 44.37 per unit, down by eight paise, against the previous day's rate of Rs 44.45 per dollar.

The six-month and annualised forward dollar premium was quoted higher at 2.88 (2.67) per cent and 2.58 (2.48) per cent respectively.

The Rupee ended the day stronger at 63.66 (64.39) per unit against the Euro. It closed at 78.62 (79.17) per unit against the Pound Sterling. Rupee ended at 41.99 (41.09) per hundred units against the Japanese Yen.

UNI PP SSS AG1824

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