Rupee closes up on strong recovery in Sensex

Mumbai, May 23: The Indian currency today closed stronger at 45.54/55 per US dollar from the last close of 45.55/57 on Friday, a dealer in the forex market said.

Earlier, rupee opened four paise stronger at 45.51/52 per US dollar, as compared to the last close of 45.55/57.

Rupee closed stronger due to 341 points or 3.25 per cent gain in the benchmark index of the Bombay Stock Exchange.

Reserve Bank of India (RBI) fixed the reference rate at 45.52 per US dollar, which was six paise down as compared to Monday's level.

The six-month forward premia ended lower at 1.00 per cent from the previous close of 1.10 per cent.

The one-year forward premia, too, ended lower at 1.09 per cent from the previous close of 1.17 per cent.

The cross-currency closing rate for rupee against euro was 58.54 (57.98), which was 44 paise down; for pound sterling it was 85.81 (85.27), again 54 paise up and for the Japanese yen it was 40.92 (40.42), 50 paise up from the previous close.

UNI