Rupee picks up one paise, closes at 45.88/89/USD

Mumbai, May 26: The Indian currency today picked up one paise to close at 45.88/89 per US dollar, compared to the previous close of 45.89/90 per US Dollar, a dealer in the Forex market said.

Earlier in the morning, the Indian currency today opened stronger by nine paise at 45.80/82/USD as compared to the last close of 45.89/90.

The rupee traded at 45.84/85/USD in the mid-morning session.

The 300 points increase in sensex the early morning session factored in the strong performance of rupee today.

The Reserve Bank of India fixed the reference rate at 45.85, which was four paise up from the previous close of 45.89/90.

The six-month forward premia ended higher at 0.70 per cent from the previous close of 0.52 per cent.

The one-year forward premia, too, ended higher at 0.89 per cent from the previous close of 0.75 per cent.

The cross-currency closing rate for rupee against euro was 58.80 (58.54), which was 26 paise down; for pound sterling it was 85.85 (86.70) which is 85 paise up, for Japanese Yen it was 40.98 (40.86), which was 12 paise down from the previous close.

UNI