Rupee ends stronger at 40.65/ 66 against USD

Mumbai, July 2: Strong inflows and money supply fuelled the Rupee, which closed today at 40.65/66 per U S Dollar, further up by nearly five paise from the previous close.

The Rupee ended at 40.71/72 per dollar on Friday.

Earlier in the day, Rupee opened stronger at 40.60/62 and during the day session it touched an intra-day low of 40.67/68, said dealers.

Moreover, the Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.66 per US dollar, up by nine paise from its previous rate of Rs 40.75 per USD.

The Indian currency is likely to appreciate in this week as enormous money supply was being witnessed in the market, dealers opined.

Forward premia ended lower today. Six month premia ended lower at 2.10 (2.25) while annualised premia at 2.30 (2.54), said dealers.

Against major world currencies, Rupee was weaker today.

The Indian Unit ended at Rs 55.20 (54.95) against Euro, it ended at 81.71 (81.65) per unit per U K Pound, while against Yen the domestic unit was ended at 33.13 (33.00) per 100 units.

UNI