Rupee ends 15 paise down against dollar

Mumbai, Aug 14: Rupee fell by nearly 15 paise per dollar today to end at 40.75 as compared to the previous close of 40.62/63.

Market stood dull during the day putting the currency under pressure and tumbled to a day's low of 40.77 per dollar.

Earlier, rupee had opened a bit weaker at 40.64/66 per dollar compared to the previous close .

Skewed Inflows and a general slow down still visible in the world market is believed to have exterted pressure on the investor expectations coupled wth the high volatility in principal markets, said dealers.

According to sources, global markets are watching with concern for cues from hedge funds, which have been hit due to their exposure to subprime mortgage-backed loans.

''Rupee was on pressure and was seen hovering at the lower levels.

The unit was highly correlated with the movement in bourses also.'', said a dealer.

Sensex, which registered a nominal loss of 16.30 points today, ended at 15,000.91.

Reserve bank excercised the reverse repo window worth Rs 25,000 crore today, above from the previous day's margin of Rs 20,000 crore and fixed the reference rate at Rs 40.69 per dollar, down by 13 paise, compared to its previous day's rate of Rs 40.56.

Forward premia bettered its margins today as six month premia closing at 2.05(1.83) per cent while one year premia ended at 1.98(1.87) per cent.

Subsequently, Rupee stood stronger against major world currencies Against euro it ended at 55.13(55.41/42) per each unit, against pound sterling it ended at 81.20(81.74/75) per each unit while yen was quoted at 34.30(34.31/31)per hundred units each.

UNI