Rupee closes at 40.75/76 per dollar

Mumbai, June 22: The Rupee lost nearly five paise today to close trade at 40.75/76 per dollar, compared to previous close of 40.71/72.

Concerns over the Intervention from Reserve Bank to stem Rupee's gains prevailed among investors throughout the session, said dealers.

The local unit opened at 40.73/75 today but went up to a day's high of 40.69 per dollar by noon.

However, it later came down as market witnessed a dull trade in the afternoon session and touched a day's low of 40.79 per dollar before closing at 40.75/76.

Rupee has gained 8.55 percent against the dollar this year and still remains as Asia's best performing currency. Inflows have been higher throughout the year.

Reserve Bank reference rate stood at Rs 40.71 per US dollar, up by four paise from its yesterday's rate of Rs 40.75 per USD.

Foward premia ended stronger today. Six month premia ended at 2.71(2.89) and annualised premia at 2.69(2.81).

Also, the domestic unit performed stronger today against major world currencies. Against Euro, Rupee closed lower at 54.68/69(54.35/36) per unit each, against Pound it closed higher at 81.29/30(80.83/85) per unit each while Yen was quoted higher at 32.80/81(32.82/84) per hundred unit each.

UNI