Sensex slide weakens Rupee by 10 ps to 45.55/57/USD

Mumbai, May 19: The rupee closed 10 paise lower at 45.55/57 per US dollar as compared to the last close of 45.45/47 as stock markets continued to fall heavily, said a dealer in the forex market.

Earlier, the rupee opened stronger at 45.43 per US dollar as compared to the last close of 45.45/47, the forex dealer added.

The Indian currency weakened to 45.46/47 per US dollar in the mid-morning session as Indian stock markets plunged by more than 500 points in intra-day trade.

Stock market's bench mark index BSE Sensex fell to a low of 10,799 this afternoon which kept rupee under constant pressure.

The crude oil prices were quoted below USD 70 per barrel at USD 69.78 per barrel which was a positive news for the rupee.

Reserve Bank of India (RBI) fixed the reference rate at 45.46 per US dollar which was two paise up as compared to Thursday's level.

The six-month forward premia ended lower at 0.90 per cent from the previous close of 1.03 per cent.

The one-year forward premia, too, ended lower at 1.03 per cent from the previous close of 1.09 per cent.

The cross-currency closing rate for rupee against euro was 58.02 (58.00), which was two paise up; for pound sterling it was 85.31 (85.50), 19 paise down and for the Japanese yen it was 40.68 (40.85), 17 paise down from the previous close.

UNI