Rupee closes slightly lower at 44.29/30 against USD

Mumbai, Mar 2 (UNI) The Rupee today closed slightly lower at 44.29/30 against the US dollar, compared to its previous close of 44.25/26, after the BSE, NSE closed in the red and the southward bound movement of most global capital markets.

Forward premia was down by five paise as importers covered short positions at lower levels.

Six-month and Twelve-month forward premia ended at 3.01/02 percent (3.18/20) and 2.93/94 percent (2.98/3.01), respectively.

Earlier in the day, the Reserve Bank of India (RBI) had fixed the reference rate at Rs 44.28 per US dollar, down by one paise from its previous rate of Rs 44.27 per USD.

Besides, the Rupee displayed a firm trend against major world currencies. The Euro closed low at 58.28/30 (58.46/48), while Pound finished at 86.29/30 (86.83/85) per unit each and Yen was quoted at 37.80/81 (37.48/50) per 100 units, brokers added.

UNI