Rupee closes higher at 44.65/66 per US dollar

Mumbai, Dec 1 (UNI) The Rupee today closed higher at 44.65/66 per US dollar as compared to the previous close of 44.73/74 over weak dollar reports by foreign and nationalised banks.

The Rupee ended higher at 44.66 per USD boosted by good capital inflows and weakening of the dollar against the other major currencies in the overseas markets.

The domestic currency could not capitalise on the gains as there were rumours of the state-run banks buying dollars on behalf of central banks at the levels of 44.65 per USD. Markets expect the rupee to appreciate further against the dollar next week, but the intervention by apex bank cannot be ignored.

Forward premia fell during the day as exporters were seen booking dollars in the forwards markets. Six-month and 12-month premia ended at 2.10 per cent (2.18 per cent) and 1.97 pr cent (2.03 per cent) respectively.

Reserve Bank of India (RBI) today fixed the reference rate at Rs 44.67 per USD, up by nine paise from its yesterday's close of of Rs 44.76 per USD.

However, the performance of the domestic unit against other currencies was mixed. The rupee closed down against Euro at Rs 59.12/14 (59.02/04) per unit. Against the Pound Sterling, it was at Rs 87.88/90 (87.50/52) per unit and against the Japanese Yen, it was at Rs 38.44/46 (38.49/51) per 100 units, dealers said.

UNI AR SSS VKG1852