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Rupee holds firm at 44.3650/3750 per USD backed by foreign funds

Written by: Staff

Mumbai, March 1: The rupee today closed firm at 44.3650/3750 as against the last close of 44.3750/3850, a dealer at the forex market here said.

The rupee had closed at 44.3750/3850 on Tuesday.

The rupee today opened stronger at 44.30/32 versus the US Dollar, as compared to yesterday's close of 44.3750/3850, the dealer added.

The rupee was traded in the range of 44.3000 and 44.3750 in the mid-morning session.

The rupee today ended firm on the back of good foreign fund inflow in the equity markets in the past two days of 1,300 crores.

Also the Bombay Stock Exchange (BSE) benchmark index ended 195 points up at 10,565 points today which held rupee high.

The global crude oil prices rose to USD 61.59 a barrel on the New York Mercantile Exchange (NYMEX), which seem to have some what restricted rupee's upward move.

RBI fixed the reference rate for the rupee at 44.35 per USD.

The six-month forward premia ended higher at 2.45 per cent from Tuesday's close at 2.41 per cent.

The one-year forward premia closed higher at 1.93 per cent, as compared to the last close of 1.90 per cent.

The cross-currency rate for the rupee against the euro was 52.95 (52.65), up by 30 paise; for pound sterling it was 77.85(77.43), closing up by 42 paise from its last close and for the Japanese yen it was 38.15(38.10), up by five paise.


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