Rupee closes flat at 40.52/53 per USD

Mumbai, Aug 9: Far from the expectation of investors, the Rupee today closed almost flat at 40.52/53 per US dollar.

During the early sessions today, the Indian unit took an upward move and opened at 40.43/44 per US dollar, strengthening itself by nearly nine paise against dollar as compared to the previous close of 40.52/53 per dollar. However, It touched the high of 40.3950 per USD during the noon sessions and in the later sessions the rupee started trading weaker and closed at 40.52/53 per dollar, dealers said.

Meanwhile, the Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.40 per US dollar, up by 18 paise, compared to its yesterday's rate of Rs 40.58 per USD, an RBI spokesperson said.

Forward premia for six-month was quoted today at 1.99 (1.60) per cent while one year premia ended at 1.85 (1.73) per cent.

Rupee today performed stronger against major world currencies.

Against Euro it ended weaker at 55.58/59 (55.85) per unit, Pound Sterling at 82.07/08 (82.15) per unit while Japanese Yen was quoted at 34.15/16 (35.00) per hundred units each.

UNI