Rupee ends up by 2 paise per dollar

Mumbai, Sep 10: Lesser demand and a general slow-down in major global markets kept Rupee range bound today to finally settle at 40.66/67 per dollar, 2 paise higher from its last close of 40.68/69.

The market, which opened at 40.74/75 per dollar in the morning, underwent a steady fall on lean inflows and finally settled at 40.66/67 per dollar.

Dealers said some oil companies were seen buying dollars in the afternoon day trade, giving some thrust to the unit's pace.

During the day, it inched up to 40.60/62 per dollar rising marginally up from its opening mark of 40.74/75 but slipped down by nearly 6 paise.

Rupee is likely to stay in the range of 40.62-75 this week, said a leading dealer with a public sector bank.

Call rates stood range bound at 6.00-6.5 percent during the day while forwards slightly bettered their previous day margins. Six month and annualised premia ended respectively at 1.30(1.26) percent and 1.48(1.44) percent.

Against major world currencies, Rupee was marginally weak during the day as against Euro ended at 56.09(55.57/58), against Pound Sterling at 82.54(82.02/03) per unit each while Japanese Yen was quoted marginally down at 39.95(35.23/24) per hundred units each.

Reserve Bank today fixed the reference rate at Rs 40.63 per US dollar, up by eight paise, compared to previous day's rate of Rs 40.71 per dollar.

UNI