Rupee remains at ease, closes at 40.40/41

Mumbai, Aug 6: Rupee remained at ease today and closed at 40.40/41 against US dollar, nearly six paise down compared to the previous close of 40.34/35 per dollar.

Though, the investors expected the Rupee to gain strength hoping high inflows of dollars, it remained at an ease. The Indian unit in early day session opened at 40.49/50 per dollar and touched a intra day high of 40.41 per dollar and later marked a day's low of 40.51 per dollar and finally ended at 40.40/41 against the US currency, dealers said.

''In the coming sessions Rupee is expected to touch the nine-year peak of 40.20 against US dollar due to high inflow of dollars in the market,'' Corporation Bank Chief Forex Dealer Sudarshan Bhatt opined.

Forward premia remained almost same the six-month premia ended at 1.71 (1.71) per cent and annualised premia slightly sliped at 1.78 (1.80) per cent.

Rupee today showed mixed reaction against major world currencies during the day with Euro ending at 55.56/57 (55.22) per unit, Pound Sterling at 81.67/68 (82.10) per unit while Japanese Yen was quoted at 34.10 (33.83) per hundred units.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.45 per US dollar, down by nine paise, compared to its Friday's rate of Rs 40.36 per USD, an RBI spokesperson said.

UNI