Rupee on 14 mnth high, at Rs 45.85/87/USD

Mumbai, Sept 21: The Indian Rupee today touched 14 month high of Rs 45.85/87 per US Dollar on the back of declining US Dollar against all major currencies, and also as the stock market cruised back to the pre-correction days, a money market trader today said.

Rupee gained ten paise to close at Rs 45.85/87 compared to previous Rs 45.96/97/US Dollar.

Earlier, the Rupee opened at Rs 45.90/91 per US Dollar and in the mid morning session traded at 45.88/89/US Dollar.

RBI fixed the Reference Rate at Rs 45.88/US Dollar compared to the previous rate of 46.05 per US Dollar on Wednesday.

The six month forward premia was fixed high at 1.22 per cent and the one year forward premia was also fixed flat at 1.25 per cent.

Rupee performance against other currencies however was mixed, against Euro, Rupee closed down at Rs 58.25 (58.19), against Pound Sterling it closed down at Rs 86.84 (86.44) and against Yen however, it closed up at Rs 39.13 (39.14).

UNI