Rupee ends marginally weaker at 39.38/39 per USD

Mumbai, Jan 28 (UNI) The Rupee today closed marginally weaker against the US Dollar at 39.38/39 as compared to previous close of 39.36/37.

The local unit traded range-bound during the day amid choppy trading session in the inter-bank foreign exchange (Forex) market.

Rupee touched an intra-day low at 39.40/41 per dollar, at the level it resumed the day, dealers said.

However, dealers expect that the rupee would appreciate in the future session on speculative inflows after the recent rate cut by the US Fed. ''In order to manage the domestic liquidity after Fed's surprise move, RBI is likely to take some reformatory steps in its quarterly review of monetary policy scheduled for tomorrow ,'' dealers said.

Meanwhile, the forward primia for six months closed at 2.15 per cent, while the one year primia closed at 1.77 per cent.

The Indian unit ended weaker at 57.94/95 (57.90) against the Euro. Rupee closed weak at 77.99 (77.85) per unit against the Pound Sterling. However, the Rupee ended at 36.99 (36.58) per hundred units, against the Japanese Yen.

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