Rupee ends weaker at 39.57/58 per USD

Mumbai, Jan 23: The Rupee today closed weaker by about ten paise at 39.57/58 against the US dollar from its previous close of 39.48/49 despite smart gains in the Indian equity market.

The partially convertible Indian Currency today traded in a wide range of 39.38 and 39.60 per dollar on alternate bouts of buying and selling dollars in an active inter-bank foreign exchange (Forex) market amid a very volatile session today, traders said.

Meanwhile, the Reserve Bank of India today fixed the reference rate at Rs 39.56 per dollar. The reference rate rose by 17 paise as compared to yesterday's rate of Rs 39.73 per dollar.

The six-month forward premium closed higher at 1.92 (1.75) per cent, while annualised premium ended at 1.54 (1.42) per cent. The Indian unit ended weaker at 57.63/64 (57.22/23) against the Euro.

Rupee closed weak at 77.27/28 (77.09/10) per unit against the Pound Sterling. Against the Japanese Yen, the Rupee ended at 37.42 (37.08/09) per hundred units.

UNI