Rupee closes 14 paise stronger at 40.80/81

Mumbai, Sep 6: The Rupee today closed 14 paise stronger against the dollar at Rs 40.80/81 in a volatile market as compared to its previous close of Rs 40.94/95.

During the early session, Rupee made a firm start at Rs 40.83/85 per dollar due to strong inflows to Indian equities. It touched a high of Rs 40.73/74 per dollar and low of Rs 40.96/97 per dollar before closing firm at 40.80/81 per dollar, dealers said.

Forward premia also took a downward move and 6-month premium ended at 1.08 (1.18) per cent while one-year premium ended at 1.31 (1.33) per cent.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.85 per US dollar. The reference rate was up by nine paise, compared to yesterday's rate of Rs 40.94 per USD.

The Indian currency traded weak against other major currencies as Rupee ended at 55.76/77 (55.4250) per unit against Euro. Against Pound Sterling, it ended at 82.36/37 (82.02) per unit, while against Yen, Rupee was quoted at 35.45 (35.35) per 100 units.

UNI