Rupee ends flat at 40.34/35 per dollar

Mumbai, July 26: The Rupee today stood range bound for the day and finally closed flat at 40.34/35 per dollar.

Surplus cash in the system prompted Reserve bank to buy out dollars keeping the unit rangebound, to contain further appreciation of the currency, said dealers.

Rupee started the day weaker at 40.35/36 and touched a high of 40.27 per dollar during the day before ending at 40.34/35 per dollar.

Traders said the currency is likely to hover around 40.30/38 per dollar tomorrow if the current pace persists in the market.

Six-month premia ended at 1.02 per cent, while annualised premia ended at 1.36 per cent.

Rupee was seen stronger against major world currencies today.

Against the Euro, it ended stronger at 55.30(55.44). Against Pound Sterling, it closed at 82.47(82.87), while against the Japanese Yen, it was quoted lower at 33.62 (33.55) per hundreds unit each.

Reserve Bank of India (RBI) fixed the reference rate for today at Rs 40.27 per US dollar, up by three paise compared to its yesterday's rate of Rs 40.30 per dollar.

UNI