Rupee closes weaker at 44.45/46 per USD

Mumbai, Mar 17 (UNI) Rupee today closed two to three paise weaker at 44.45/46 per US dollar as compared to the last close of 44.4250/4350, said a foreign exchange (forex) dealer here.

Earlier in the morning, rupee opened around seven paise stronger at 44.35/37 per US dollar as compared to the last close of 44.4250/4,350, added the forex dealer.

The rupee lost the early morning gains trading at 44.4150/41,250 per US dollar in the mid morning session and closed finally 10 paise lower from the opening rate of 44.35/37.

The crude prices in the New York Mercantile Exchange (NYMEX) traded above USD 63 per barrel at 63.47 per barrel which did weaken rupee during the day.

Also the stock markets lost early morning gains closing at 10,860 after touching an all time high of 10,951 points this morning which could have had a negative impact.

The Reserve Bank of India (RBI) reference rate for the rupee versus US dollar was 44.42, one paisa higher.

The six-month forward premia ended higher at 2.45 per cent as compared to Tuesday's close at 2.37 per cent.

The one-year forward premia also ended higher at 1.95 per cent as compared to the last close at 1.90 per cent.

The cross-currency closing rate for the rupee against the euro was 54.08 (53.64) which was 42 paise higher; for the pound sterling it was 77.97 (77.60) which was 37 paise up and for the Japanese yen it was 38.20 (37.77) which was 43 paise higher.

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