Rupee closes nine paise up at 45.97/98 USD

Mumbai, Apr 28 (UNI) Rupee today closed stronger by five paise up at 45.97/98 per US dollar, as compared to the previous close of 45.02/03, a forex dealer in the money market here said.

The US dollar slipped in the international market as the Federal Reserve chief indicated towards a pause in the interest hike.

Earlier rupee opened higher at 44.98 per US dollar as compared to the last close of 45.02/03, the dealer added.

But it slipped in the afternoon on the back of 490 points fall in the stock market's benchmark index and clawed back as stock markets recovered the losses completely closing in the green with a gain of 17 points at 11,851.93.

Reserve Bank of India (RBI) reference rate for rupee versus US dollar was 44.97, nine paise up from the previous close.

The six-month forward premia ended lower at 1.24 per cent, as compared to previous close of 1.34 per cent.

The one-year forward premia also ended lower at 1.21 per cent, as compared to the last close at 1.27 per cent.

The cross-currency closing rate for the rupee against the euro was 56.40(55.86), which was 54 paise up; for pound sterling it was 81.29(80.27), one rupee two paise up and for the Japanese yen it was 39.34(39.02), 32 paise down from the previous close.

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