Rupee ends steady at 40.52/53 USD

Mumbai, June 5: The Rupee ended almost steady at its previous level of Rs 40.52/53 against US Dollar amidist quiet trading at the Interbank Foreign Exchange (Forex) market today.

The local currency opened weaker at 40.53/54 from its yesterday's finish of 40.52/53 and fell further to Rs 40.55 in the morning trade, but the rupee finally ended steady at its previous close.

Forex dealers attributed the steady trend between Dollar-Rupee to the presence of the Reserve Bank of India (RBI) in the market.

''The Rupee would have gone to a level of Rs 40.40 if RBI had not been there in the market,'' said a senior forex dealer from a leading private commercial bank.

The RBI today fixed the reference rate at Rs 40.56 per US dollar, down by nine paise from yesterday's rate of Rs 40.47 per USD.

In the cross currency trade, Rupee ended weaker against all the three world currencies Against Euro Rupee ended at 54.70/71 (54.48/49) per unit, it finished at Rs 80.64/65 (30/31) per unit and it was ended at 33.25/26 (14/15) per 100 units each against Yen.

Elsewhere, the sixth month and annualised forward premia ended higher at 2.44 and 2.59 per cent respectively from the previous close of 2.40 and 2.51 per cent respectively.

UNI