Rupee close at 16-week high of 44.92 per USD

Mumbai, Apr 24: Rupee today closed up by 13 paise to 44.92 per US dollar, a 16-week high, as compared to the previous close of 45.15/16, on reports of weak Asian markets and a surge in oil price to above USD 75 a barrel level.

The Indian unit today opened weak at 45.06/08 per US dollar against the previous close of 45.15/16, a foreign exchange (forex) dealer here said.

Trading in a range, the rupee firmed up to 45.11/12 in the mid-session at around 1230 hrs.

Crude oil prices softened in the New York Mercantile Exchange (NYMEX) while trading at 75 in the morning, which was still not a comfortable level for the domestic currency.

Meanwhile, the Bombay Stock Exchange Sensitive Index (Sensex) crashed sharply by 115 points, quoting below the 12,000-mark by closing for the day at 11,915.24 points.

Reserve Bank of India (RBI) reference rate for rupee versus US dollar was 45.06, three paise up from the previous close.

The six-month forward premia ended higher at 1.20 per cent, as compared to previous close at 1.03 per cent.

The one-year forward premia also ended higher at 1.17 per cent, as compared to the last close at 1.05 per cent.

The cross-currency closing rate for the rupee against the euro was 55.58(55.58), which remained unchanged; for pound sterling it was 80.31 (80.29), three paise up and for the Japanese yen it was 39.06 (38.48), 58 paise down from the previous close.

UNI