Rupee ends flat at 39.30 per USD

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Mumbai, Nov 7: After touching a near decade-peak at 39.16 per US Dollar, the Rupee ended flat at 39.30 per dollar on suspected intervention by the Reserve Bank.

The partially convertible Indian currency started firm at 39.26/27 per dollar and touched a near decade-peak during early trade in a fairly active inter bank foreign exchange market.

Later, it moved in a narrow range of 39.27 and 39.30 per dollar, before closing flat in late trade as the inflows of dollars from the Foreign Institutional Investors (FII) were absorbed by the reported intervention of RBI, dealers said.

The six-month forward premium closed up at 1.66 (1.52) per cent, while annualised premium ended at 1.32 (1.20) per cent.

Meanwhile, RBI today fixed the reference rate at Rs 39.27 per US Dollar. The reference rate was up by two paise as compared to yesterday's rate of Rs 39.29 per USD.

The Rupee traded weaker against other major world currencies today. The Indian unit ended stronger at 57.60 (57.09/10) against the Euro. Against Pound Sterling, rupee closed weak at 82.50 (81.89/90) per unit. While, against the Japanese Yen, the Rupee ended at 34.80 (34.29/30) per hundred units.


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