Rupee remains stagnant at 44.10/11

Mumbai, Feb 6 (UNI) Indian Rupee today closed steady at its previous day's finish of 44.10/11 per dollar amidst quiet trading at the Interbank Foreign Exchange (Forex) market today.

The Indian Unit Rupee opened at 44.10/11, firmed up to 44.07/08, touched the level of 44.13, before finishing at the previous day's level, dealers said.

Dealers said that there was good demand for the US Greenback from the PSU oil companies and the State run banks as well as the Central Bank was seem to be purchasing dollars on behalf of them.

''Except few hectic activities, the trading was absoletely quiet in the market today,'' a senior dealer from the Forex Division of the Public Sector Canara Bank said.

Action in the forwards was also soft and the six month forward premia closed steady at 3.27 per cent as against yesterday's 3.35 per cent. The annualised 1-year premia too ended steady at 2.98 as compared to the previous day's finish of 2.99 per cent.

The Reserve Bank of India (RBI) today fixed reference rate at Rs 44.13 up by two paise from the yesterday's level of Rs 44.11.

The domestic unit lost moderately against the major world currencies in the cross currency trade. The Rupee was traded at Rs 57.06/08 against the pound sterling from the previous level of Rs 57.04/06. The Indian Unit ended at Rs 86.77/78 per Euro against previous close of Rs 86.38/40 per unit. The Rupee finished at Rs 36.69/70 against Yen as compared to the previous day's 36.52.

UNI