Rupee recovers by 4 paise, closes at 40.10 per USD

Mumbai, Mar 27: The Rupee today recovered nearly four paise to close at 40.10/11 against the USD from its previous close of 40.14/15 due to a boost in the foreign fund flows into the local stock market. Suspected RBI intervention capped the currency's further rise, dealers said. The local unit fluctuated in a wide range band of 40.06 and 40.17 per dollar before closing upward in late trading session amidst some selling of dollars. The Reserve Bank of India fixed the reference rate for the USD today at Rs 40.15, up one paisa as compared to yesterday's rate.

Meanwhile, the six-month premium was quoted higher at 2.16/18 (1.80/82) per cent and annualised premium appreciated at 1.50/52 (1.30/32) per cent. The Rupee closed higher today at 62.03/05 (62.90/92) against the Euro. It ended at 80.56/58 (79.90/92) per unit against the Pound Sterling and closed at 40.13/15 (40.30/32) per hundred units against the Japanese Yen.

UNI