Rupee gains 6 paise to close at 46.50/51/USD

Mumbai, Aug 28: The Indian currency today closed strong by six paise at Rs 46.50/51 per US dollar as compared to Rs 46.56 per USD on Friday, largely due to reduction in crude oil price to US Dollar 72.50 per barrel mark and also due to the strong performance of the Bombay Stock Exchange Sensitive Index (Sensex), which gained 47 points on the first day of the week, said a money market trader here.

Earlier, rupee opened at 46.57/59 per USD and in the mid-morning session it traded at Rs 46.54/55 per USD.

Reserve Bank of India (RBI) today fixed the reference rate at Rs 46.56 per USD as compared to the previous rate of Rs 46.61 per USD.

The six-month forward premia was fixed low at 1.36 per cent and the one-year forward premia was also fixed low at 1.32 per cent.

However, the Rupee did not perform equally well against other currencies. Against the Euro it was down at Rs 59.50 (59.36), against the Pound sterling it was down at Rs 88.05 (87.77) and against the Yen too it was down at Rs 39.70 (39.67).

UNI