Rupee ends at 40.40/41 per USD

Mumbai, July 11 (UNI) The Rupee today ended slightly weaker at 40.40/41 against the previous close of 40.3750/40.3850 per dollar.

While the local unit opened flat today at 40.3850/40.3950 per dollar, it gained strength during the early sessions against the dollar. In the later session, Rupee was supported at 40.37/38 by the intervention of Reserve Bank of India and dollar buyings by oil refiners, dealers said.

Meanwhile, forward premia today went up by 12 to 13 basis as six month premia was quoted at 1.83 (1.71) while annualised premia closed at 1.95 (1.82).

The RBI today fixed the reference rate at Rs 40.38 per US dollar, up by three paise compared to its yesterday's rate of Rs 40.41 per USD, a RBI spokesperson said.

Rupee staged weaker during the day against major world currencies. Against Euro it ended at 55.51 (55.01) per unit, at 81.89 (81.44) against Pound Sterling and against Japanese Yen, the local currency ended at 33.24 (32.98) per 100 units.

UNI