Rupee ends weaker at 40.54/55 against USD

Mumbai, July 30: The Rupee today closed slightly weaker at 40.54/55 per dollar, down by about four paise as compared to previous closing at 40.50/51 per dollar last Friday.

Market was less volatile and investors are looking forward to tomorrow's RBI credit policy, said traders.

The local unit today opened marginally weaker at 40.58/60, nearly 9 paise down from the previous close of 40.50/51 agaist US dollar. Moreover, foreign inflows were reportedly weak during the first half of the day, according to dealers.

Forward premia ended weaker today falling down at a marginal basis of 16 to 23. Six-month premia ended at 0.99 (1.22) per cent, while annualised premia closed at 1.24 (1.40) per cent.

The Reserve Bank fixed the reference rate for today at Rs 40.54 per US dollar, down by six paise, compared to its Friday's rate of Rs 40.48 per USD, a RBI spokesperson said.

Rupee showed mixed performance against major world currencies today. Against Euro, it ended lower at 55.28/29 (55.14/15). Against Pound Sterling, it closed higher at 81.84/85 (82.09/10), while against the Japanese Yen, it was quoted lower at 34.19/20 (33.98/99) per hundred units each.

UNI