Rupee declines by ten paise against USD

Mumbai, Feb 4: The Rupee today ended ten paise weaker against US dollar at 39.45/46 from its previous close of 39.35/36 on fresh buying of dollars by foreign and domestic banks. After a lacklustre week in the interbank foreign exchange (Forex) market, the partially convertible Indian currency today traded in a wide range band between 39.34 and 39.47 per dollar before closing the day on weak note against the green back, dealers said.

Though, there was enough volatility in the indian equity market, the outflow of dollars was high on account of strong buyings by foreign banks during the day trade, dealers added. Meanwhile, the forward primia for six months closed lower at 1.58 (2.07) per cent and annualised primia closed at 1.50 (1.77) per cent. The Reserve Bank of India today fixed the reference rate for the US dollar slightly higher at Rs 39.38.

The Indian unit ended firm at 58.33/34 (58.55/56) against the Euro. Rupee closed also slightly lower at 78.80/81 (78.35/36) per unit against the Pound Sterling. Rupee ended firm at 36.83/85 (36.96/97) per hundred units against the Japanese Yen.

UNI