Rupee closes stronger at 44.4250/4350 per USD

Mumbai, Mar 16 (UNI) The rupee today closed four to five paise stronger at 44.4250/4,350 per US dollar as compared to the last close of 44.47/48, said a foreign exchange (forex) dealer here.

Earlier in the morning rupee today opened around nine paise stronger at 44.38/40 per US dollar as compared to the last close of 44.47/48, added the forex dealer.

The rupee traded in the range of 44.40 to 43.50 per US dollar during the mid-morning session, he said.

The rise in the crude didn't impact rupee much. The crude prices in the New York Mercantile Exchange (NYMEX) traded just below USD 62 per barrel at US 61.92.

The Reserve Bank of India (RBI) reference rate for the rupee versus US dollar was 44.41, six paise higher.

The six-month forward premia ended lower at 2.37 per cent as compared to Tuesday's close at 2.70 per cent.

The one-year forward premia also ended lower at 1.90 per cent as compared to the last close at 2.07 per cent.

The cross-currency closing rate for the rupee against the euro was 53.64 (53.10) which was 54 paise higher; for the pound sterling it was 77.60 (77.12) which was 48 paise up and for the Japanese yen it was 37.77 (37.55) which was 12 paise higher.

UNI RRP MJ VKG1830