Rupee ends flat at 39.54 per USD

Mumbai, Dec 18 (UNI) The Rupee today ended flat at 39.54 per US Dollar from its previous close of 39.54/55 amid choppy trading sessions in the market.

The partially convertible Indian unit resumed weaker against the US unit at 39.60 in early trade, touching more than a two week low. Later, it touched a high of 39.4750 per Dollar and a low of 39.62 per dollar amid choppy trade throughout the day in Inter-bank Foreign Exchange (Forex) market, dealers said.

''The local unit fluctuated with a difference of about 15 paise.

However, the supply was good in the market,'' a senior dealer with a leading private bank said. It is expected that rupee would have an upward resistance of around 39.60 per dollar and a downside resistance of around 39.80 per dollar in the further sessions of this month as the market is observing a kind of consolidation and rupee is finding support around 39.35 per dollar, he opined.

The six-month forward premium closed lower at 1.82 (1.95) per cent, while annualized premium ended at 1.35 (1.38) per cent.

Meanwhile, the Reserve Bank of India (RBI) today fixed the reference rate at Rs 39.57 per US Dollar. The reference rate is up by 20 paise compared to previous day's rate of Rs 39.37 per USD.

A mixed trend was observed in the Rupee's trade against other major world currencies. The Indian unit ended weak at 56.85 (56.82/83) against the Euro, while it closed strong at 79.60 (79.71/71) per unit against Pound Sterling. Against the Japanese Yen, it ended at 34.82 (34.84/85) per hundred units.

UNI