Rupee appreciates against USD, ends at 39.5150/5250

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Mumbai, Feb 6:The Rupee today appreciated by about four and half paise against the US Dollar to end the day at 39.5150/5250 as compared to previous close of 39.55/56 per dollar, depite strong outflows in the Indian equity market.

The partially convertible Indian currency resumed the day on weak note at 39.65/66 per dollar in a fairly active interbank foreign exchange (Forex) market. Afterwards, it traded in a wide range band between 39.52 and 39.65 per dollar amid fluctuating demands in the market, before ending firm in the late trade, dealers said.

However, a strong outflow in the local equity market was witnessed as the benchmark indices plunged with a wide negative gap--Sensex tumbled by about 541 points and Nifty slipped 161 points to close the session today, dealers observed.

Meanwhile, the forward primia for six months closed higher at 1.32 (1.20) per cent and annualised primia closed at 1.34 (1.30) (1.50) per cent. The Reserve Bank of India today fixed the reference rate for the US dollar at an higher level Rs 39.60 as compared to the previous Rs 39.43.

The Indian unit ended firm at 57.73 (57.98/99) against the Euro. However, Rupee closed weaker at 77.30 (77.80/81) per unit against the Pound Sterling. While, Indian unit ended the day at 37.06 (36.73/74) per hundred units against the Japanese Yen.


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