Rupee ends flat at 40.88/89 per US dollar

Mumbai, Sep 3: The Rupee today ended almost flat at 40.88/89 per dollar as against the last close of 40.87/88, leaving the dealers to witness a dull trade, where demand was marginally weak from all quarters.

The unit, which started off the day at 40.88/90, hovered around these levels for most part of the day except for certain movements seen around noon, pushing Rupee upwards to register a day's high of 40.84 per dollar.

However, it later slipped down to 40.93/94 levels against the US currency before recovering by over 10 paise in the late day trade and closing at 40.88/89.

Dealers said the unit may hover in the range of 40.75-41.25 in near term, taking in to account the nature of foreign Investment inflows and global market trends.

Subsequently, Reserve bank's reference rate for the day stood at Rs 40.88 per US dollar, up by eight paise, compared to the Friday's rate of Rs 40.96 per dollar.

Forward premia showed better for the day as it improved levels with six month premium ending higher at 1.18(1.06) and annualised premium at 1.30(1.21).

On the other side, against the major world currencies Rupee stood weaker for the day as against Euro it ended at 55.75(55.73/74) per unit each, against pound sterling at 82.47(82.17/18)per unit each while Yen was quoted at 35.29(35.04/05) per 100 units each.

UNI