Rupee slips by another 7 paise; closes at 41.16/17 per USD

Mumbai, Aug 30: After a firm start, Rupee today ended lower by another seven paise to finish at 41.16/17 per U S Dollar as compared to the previous close of Rs 41.10/11 per U S unit in active trade at the interbank foreign exchange (forex) market today.

The local currency opened higher at Rs 40.99/41.00 per U S Dollar from the previous close. However, the Rupee started falling throughout the day, forex dealers said.

''It was almost one-way market, where the Rupee continued its slide till the end of the day,'' said a senior forex dealer at the leading private commercial bank.

The Reserve Bank of India (RBI) has fixed its reference rate for the U S Dollar at Rs 41.04, up by 20 paise from the previous day's rate of Rs 41.24 per U S Dollar.

The sixth months and annualised forward premia were ended at 1.22 and 1.29 per cent respectively.

In cross currency trade, the Rupee ended at Rs 55.97 per Euro, followed by Rs 82.60 per Sterling Pound and finished at Rs 35.58 per 100 Japanese Yen.

UNI