Rupee closes stronger at 44.31/32 per USD

Mumbai, Mar 6 (UNI) The rupee today closed stronger at 44.31/32 per US dollar as against the last close of 44.32/33, a dealer at the forex market here said.

Earlier in the day, the rupee opened weaker by two paise at 44.34/35, as against the last close of 44.32/33, he said, adding, the rupee traded in the range of 44.32 to 44.37 in the mid-morning session.

The inflow of Rs 645 crore in the stock markets on Thursday, as reported by SEBI, cushioned the Indian unit against the dollar.

The stock markets 140-point rally along with the Bombay Stock Exchange Sensex closing at 10,735 points also boosted the rupee.

The crude oil prices traded unchanged, above USD 63 per barrel in the New York Mercantile Exchange (NYMEX) and somewhat subdued the rupee's forward march.

RBI fixed the reference rate for the rupee at 44.32 per USD.

The six-month forward premia ended higher at 2.93 per cent from Friday's close at 2.65 per cent.

The one-year forward premia also closed higher at 2.29 per cent, as compared to the last close of 2.05 per cent.

The cross-currency rate for the rupee against the euro was 10 paise up at 53.35 (53.25), for pound sterling it was 77.80 (77.80), closing unchanged from its last close and for the Japanese yen it was 37.80 (38.05), down by 25 paise.

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