Rupee closes higher at 39.75/76 against dollar

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Mumbai Nov 29 (UNI) The Rupee closed higher by six paise at 39.75/76 against the US dollar compared to its previous close of 39.81 paise in a fairly active forex market today.

The Rupee opened in the morning session at 39.70/72 per dollar, moving up from Wednesday's finish of 39.81. During the day, it traded in the range between 39.60 to 39.75 paise.

The Rupee gave up most of its early gains, weighed by dollar buying by oil companies, capital outflows from the stock market, and hints of central bank intervention, dealers said.

Dealers said some foreign funds may be repatriating profits before the end of the calender year, weighing on the local unit.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 39.77 per US Dollar. The reference rate was down by nine paise as compared to the previous day's rate of Rs 39.68 per USD The six-month forward premium closed firm at 1.45 (1.42) per cent, while annualized premium ended marginally lower at 1.20 (1.16) per cent.

The Rupee today traded firm against other major world currencies. The Indian unit ended at 58.60 against the Euro.

The Rupee closed at 81.99 per unit against Pound Sterling, while against the Japanese Yen, the Rupee ended at 36.14 per hundred units.


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