Rupee closes stronger at 40.79/80 per dollar

Mumbai, June 11: The Rupee closed up by nearly 30 paise today at 40.79/80 per dollar from Friday's close of 41.11/13 on strong inflows.

The domestic unit opened at 40.98 per dollar in the early morning session and touched a low of 41.05 before noon.

However, strong inflows from corporates later supported Rupee to regain prominence and end the day's trade at a comfortable 40.79/80.

''RBI has always been in the scene throughout the day to check the Rupee's fluctuations. Rupee may lose in the coming sessions.'', said Mr. Navin, a dealer from Development Credit Bank.

Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.91 per US dollar, up by seven paise from Friday's rate of Rs 40.98 per USD, according to an RBI spokesperson here.

Forward Premia continued at lower levels today. Six month Premia ended at 2.59 while the annualised premia ended at 2.66.

Against Euro the Indian currency closed at 54.30/31 per unit each. Against Pound it ended at 80.02/03 per unit each while Yen was quoted at 33.43/44 per 100 unit each.

UNI