Rupee closes 12 paise weaker at 44.71/72 per USD

Mumbai, Apr 4: Rupee came off sharply to close 12 paise weaker at 44.71/72 per US dollar as compared to the last close of 44.59/61, said a foreign exchange (forex) dealer here.

Earlier the rupee opened stronger at 44.55/57 per US dollar as compared to the last close of 44.59/61, the dealer added.

Later in the mid-morning session, the Indian unit traded weaker at 44.60/62 per dollar before slipping to 44.70 level.

The Reserve Bank of India (RBI) reference rate for the rupee versus US dollar was 44.61, which was unchanged from the Monday's close.

The six-month forward premia ended lower at 1.63 per cent, as compared to Monday's close at 2.01 per cent.

The one-year forward premia also ended lower at 1.56 per cent, as compared to the last close at 1.81 per cent.

The cross-currency closing rate for the rupee against the euro was 54.37 (53.66) which was 71 paise higher, for pound sterling it was 77.91 (76.90), which was Rs 1.01 up and for the Japanese yen it was 37.95 (37.58), which was 37 paise up.

UNI