Rupee down by 10 paise, closes at 40.52/53 per USD

Mumbai, Aug 08: The revised ECBs norms worked well as the rupee today came down by nearly ten paise against the dollar and ended weaker at 40.52/53 per US dollar compared to the last close of 40.41/42 per USD.

The Indian unit opend today at lower value against dollar at 40.79/80. During the early sessions, Rupee traded weaker against the foreign currencies and the market was extremely volatile. However, during the intra-day trade, it touched a high of 40.46/47 and traded low at 40/82 per dollar during the afternoon sessions, dealers said.

''The revised ECBs norms led to a sharp depreciation of Rupee against dollar,'' a Senior Forex dealer said.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.58 per US dollar, down by 21 paise, compared to its yesterday's rate of Rs 40.37 per USD, an RBI spokesperson said.

Forward premia for six-month was quoted today at 1.60(1.63) per cent while one year premia ended at 1.85 (1.73) per cent.

Rupee today performed weaker against major world currencies.

Against Euro it ended weaker at 55.85 (55.68) per unit, Pound Sterling at 82.15 (82.13) per unit while Japanese Yen was quoted at 35.00 (34.05) per hundred units each.

UNI