Rupee ends at 41.28/30 against US dollar

Mumbai, May 10 (UNI) The Rupee today went down further from its recent heights to close the trade at 41.28/30 against the US Dollar as investors unwound positions in the local currency, spurred by a slump in overnight cash rates that made holding positions in the Rupee less attractive.

In early day trade, Rupee opened the deal at 40.97/98 per dollar against the previous close of 40.93/94.

Later it registered a days high of 40.94/95 before ending the trade at 41.28/30, which was also the days low.

Strong dollar demand from importers, specifically oil refiners, also put pressure on the Rupee, said dealers.

The forward premia today showed a weaker trend in todays trade.

The six-month and twelve-month premias today closed at 4.90(5.36) and 4.25(4.83) respectively.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.00 per US dollar, up by 91 paise from yesterday's rate of Rs 40.91 per USD, said RBI.

The domestic unit today stood stronger against the world currencies. Against Euro, the Rupee closed weaker at 55.51/55(55.14/15) per unit each, against Pound it finished lower at 81.48/53(81.11/12) per unit each and the Yen was quoted higher at 34.07/10(33.96/97) per 100 units each, said dealers.

UNI