Rupee slips 9 paise, closes at Rs 45.37/ USD

Mumbai, Oct 18: The rupee today closed a low of Rs 45.37 per US dollar as compared to previous 45.27.50 per USD, as the short-covering by national and foreign banks, dealers said.

However, there was momentum of the Foreign Institutional Investors (FII) inflow continued, but the rupee could face some pressure due to month end demand.

Earlier, the domestic currency opened up at Rs 45.25 per USD and in the mid-morning traded low at Rs 45.38/39 per USD.

The six-month forward premia was fixed low at 1.65 per cent(1.72 per cent) and the one-year premia was also flat at 1.57 per cent.

Reserve Bank of India today fixed the reference Rate at Rs 45.26 per USD as compared to the previous rate of Rs 45.36 per USD.

The performance of the rupee against other currencies also improved. Against Euro the rupee closed down at Rs 56.84, against Pound Sterling it closed also weak at Rs 84.80 and against Yen it was up at Rs 38.20.

UNI