Rupee ends weaker at 41.16/17 per USD

Mumbai, Aug 28: The Indian Rupee today ended weaker by about fourteen paise against U S Dollar at Rs 41.16/17 as compared to the previous close of Rs 41.02/03 per dollar in an actively traded forex market.

Making a weak start at Rs 41.07/10 per US dollar during the early trade, the local unit traded in a wide range of 41.07/10-41.16/17 per dollar in a volatile market. Before closing at 41.16/17 per dollar, the rupee touched a high of Rs 41.09/10 and a low of Rs 41.16/17 per dollar during the course of trading, dealers said.

Forward premia for 6 months and one year also came down. The 6th month premia was quoted at 0.65 (0.89) per cent and the one-year forward premia ended at 0.92 (1.23) per cent.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 41.12 per US dollar. The reference rate was down by 14 paise, compared to previous day's rate of Rs 40.98 per USD.

Rupee was weak against all the major currencies. It closed week against euro at 55.98/99 (55.85/86) per euro. The local currency ended weaker against the pound sterling at 82.47/48 (82.36/37) per unit, while against the yen, the rupee ended at 35.54/55 (35.25/26) per 100 units.

UNI