Rupee falls further, ends at 40.70/71 per dollar

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Mumbai, June 7: The rupee closed further weak today at 40.70/71 per dollar as compared to the previous close of 40.66/67.

The fall of the domestic unit was deeply correlated with the dip in Sensex margins, which has fallen by 69.75 points today, brokers said.

The rupee which started trading at 40.68 later gained a day's high of 40.61.

However in the afternoon session, it plunged further down to mark a day's low of 40.76 before closing the trade at 40.70/71, dealers said.

Forward premia fell further today as sixth-month and annualised forward premia were closed respectievely at 2.43(2.63) per cent and 2.61 (2.72) per cent.

Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.63 per US dollar, down by eight paise from yesterday's rate of Rs 40.55 per USD.

The domesti unit appeared stronger today against major world currencies. Against Euro it closed at 54.79/80(54.92/93) per unit.

Against Pound it ended higher at 80.73/74 (80.92/93). The local unit also finished higher against the Japanese yen at 33.47/48 (33.55/56) per 100 units.


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