Rupee remains unchanged at 40.75/76

Mumbai, June 13: Continuing the pullback from Friday's heavy losses, the Rupee hit an intra-day high of 40.66 before settling at 40.75.

According to the traders suspected intervention by the central banks prevented the rupee from rising further. Despite the intervention, the rupee has risen more than eight per cent against the dollar this year and remained to be the strongest currency in Asia.

Most other currencies in the SE Asian region edged up against the dollar although the latter drew support from rising US yields elsewhere.

The rupee was bolstered by IPO related inflows and stronger-than-expected industrial output data. IP growth outdid forecasts posting a robust 13.6 percent y-o-y rate.

UNI