Rupee closes lower against US Dollar at 44.52/53

Mumbai, Jan 8: The Rupee closed lower today at 44.52/53 against the per US dollar compared to 44.30/32, the previous day's close, dealers said.

Rupee fell by 0.40 per cent and ended weaker at 44.52/USD.

Marketmen believe that fall in the equity markets and dollar's rally against the major Asian currencies globally led to the downslide of the Rupee. Dollar demand from oil importers also capped Rupee's gains.

Premia appeared to be quite choppy during the session as merchant traders were seen entering the market. Six-month and Twelve-month premia ended at 3.70 per cent (3.53) and 3.01 per cent (3.01 respectively.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 44.42 per US dollar, down by 12 paise from Friday's rate of Rs 44.30 per US dollar, a RBI spokesperson said here.

However, the performance of the domestic unit against other currencies was mixed. The Rupee was down against the Euro at Rs 58.83/85 (58.03/05) per unit, it was Rs 85.93/95 (85.96/98) per unit against Pound Sterling, and at Rs 37.50/52 (37.48/50) per 100 units against the Japanese Yen, dealers said.

UNI