Rupee stays range bound; Ends at 40.62/63 per dollar

Mumbai, Aug 13: The Rupee today closed slightly up at 40.6250/6350 per dollar as against friday's close of 40.64 per dollar.

Earlier, in the morning session Rupee had opened at 40.62/64 per dollar, almost at the same levels of the previous closing, and went up to a day's high of 40.53 by noon before losing by nearly 10 paise against the dollar in afternoon day trade.

Market remained quiet for most part of the day as investors were cautious about the market movements which had a corresponding impact on the currency value, said a dealer.

''The market was quiet today with not much demand seen from the investors. Rupee is expected to stay range bound in near term at 40.25-65 per dollar levels.'', he said.

Reserve bank excercised the reverse repo window worth Rs 20,000 crore today, slightly above from the previous day's margin of Rs 19,625 crore and fixed the reference rate at Rs 40.56 per US dollar, up by 11 paise, compared to its previous day's rate of Rs 40.67 per dollar.

Forward premia lowered slightly today as six month premia ended at 1.83(1.90) per cent while one year premia ended at 1.87(1.94)per cent.

Against major world currencies, Rupee behaved comparatively stronger Against euro, rupee ended at 55.41/42(55.46) per each unit, against pound sterling it ended at 81.74/75(81.60) per each unit while yen was quoted at 34.31/31(34.40) per hundred units each.

UNI