Rupee ends at 40.3750/40.3850 per US dollar

Mumbai, Jul 10 (UNI) Indian Rupee today ended stronger by nearly six paise at 40.3750/40.3850 against the previous close of 40.44 per dollar.

The local unit drove up by moderate investment flows in the early sessions, but the gains were limited by RBI intervention in the later session and Rupee was supported at a range bound limit, dealers said.

Rupee initiated firm at 40.38/40 per dollar with the capital inflows remaining strong to equities and drew strength from a weak dollar to maintain prominence as Asia's major currency.

Meanwhile, forward premia fell further today as six month premia was quoted at 1.71 (1.74) while annualised premia closed at 1.82 (1.83).

The Reserve Bank of India (RBI) today maintained the reference rate steady at Rs 40.41 per US dollar, an RBI spokesperson said.

Rupee staged weaker during the day against major world currencies. Against Euro it ended at 55.01 (54.91/92) per unit, at 81.44 (81.20/21) against Pound Sterling and against Japanese Yen the local currency ended at 32.98 (32.64/65) per 100 units.

UNI