Rupee ends almost flat at 39.58/59 against USD

Mumbai, Oct 24 (UNI) The rupee today ended almost flat at 39.58/59 per US Dollar as compared to its previous close of 39.59/60 per USD, on the reported intervention of the Reserve Bank of India (RBI) to support the Indian unit.

The partially-convertible Indian currency started firm today at USD 39.50/51 anticipating the capital inflows into the stock market.

It traded in a wide range of 39.50 and 39.67 per USD and was later supported by the central bank at around 39.55 per USD during the afternoon sessions, dealers said.

The six-month forward premium closed at 1.04 (0.89) per cent, while annualised premium ended at 0.99 (0.82) per cent. Meanwhile, the central bank today fixed the reference rate at Rs 39.57 per USD.

The reference rate was up by 12 paise as compared to yesterday's rate of Rs 39.69 per USD.

The rupee was firm against other major world currencies today.

The domestic unit against Euro ended firm at 56.09 (56.34) per unit.

Against Pound Sterling, it closed firm at 80.64 (80.98) per unit, while against Japanese Yen, the rupee was firm at 34.48 (34.50) per hundred units.

UNI