Rupee ends 5 paise up at 40.34/35 per dollar

Mumbai, July 19: The Rupee bounced back to stronger levels today, ending the day's trade firm at 40.34/35 per dollar with a massive gain of 5 paise compared to the previous close of 40.34/35.

Market stood highly volatile as huge inflows continued to Indian equities. The unit opened at 40.4350 per US dollar and rose to a peak margin of 40.33 against the US currency by 1330 hrs.

At this point, Reserve bank intervened to sell rupees through public sector banks to support the currency at steady levels, said a leading dealer with a public sector bank.

The currency traded down up to 40.44/45 later before settling at 40.34/35 per dollar in the evening.

Reserve Bank today fixed the reference rate at Rs 40.39 per US dollar, down by one paise compared to its yesterday's rate of Rs 40.40 per dollar.

Forward premia started the day stronger but ended the day lower.

Six month premia was quoted at 1.53 percent while annualised premia ended at 1.70 percent.

Rupee was stronger against major world currencies today. It ended at 55.75 (55.92) against Euro, at 82.75(82.93) against Pound Sterling while Yen was quoted at 33.15(33.12) per hundred units each.

UNI