Rupee sheds two paise to close at 46.55 per USD

Mumbai, Aug 25: The rupee today closed weak by two paise at Rs 46.55 per US dollar as compared to Rs 46.53/54 per USD yesterday, said a money market trader here.

The weakness in the domestic currency was attributed to hike in crude oil price, which rose to almost USD 73 per barrel mark, and also to strengthning of the USD against other major Asian currencies, said a money market trader here.

Earlier, rupee opened at 46.55/57 per USD and in the mid-morning session it traded at Rs 46.56/57 per USD.

Reserve Bank of India (RBI) today fixed the reference rate at Rs 46.61 per USD as compared to the previous rate of Rs 46.50 per USD.

The six-month forward premia was fixed high at 1.37 per cent and the one-year forward premia was also fixed high at 1.33 per cent.

The rupee's performance against other currencies, however, was comparatively better. Against Euro it was up at Rs 59.36 (59.52), against Pound sterling it was up at Rs 87.77 (87.92) and against Yen it was up at Rs 39.67 (39.90).

UNI