Rupee strengthens by five paise closes at Rs 46.70/71/USD.

Mumbai, July 18: Indian Rupee today closed stronger by five paise at Rs 46.70/71 per US Dollar compared to the previous close of Rs 46.75 per US Dollar, said a trader in the money market.

Rupee earlier opened at Rs 46.75/78/US Dollar and in the mid morning session traded at 46.72/73/US Dollar.

RBI today fixed the Reference Rate at Rs 46.73/US Dollar.

The six month forward premia was fixed at 1.2 per cent and the one year forward premia was fixed at 1.22per cent.

Rupee also performed well against other currencies, against Euro it was up at Rs 58.47 (58.57), against Pound Sterling it was down at Rs 85.35 (85.00), and against Yen it was up at Rs 39.88 (39.95).

UNI