Rupee ends lower at 40.16/17 against USD

Mumbai, Apr 28 (UNI) The Rupee today ended lower at 40.16/17 against the Dollar with a small loss of six paise from it last close of 40.10/12 on fresh dollar buying support by foreign banks, dealers said.

Rupee weakened, weighed down by oil firms buying dollars, as dealers waited for RBI's policy credit policy tomorrow for cues on the currency's course.

The Rupee resumed lower at 40.10/12, fluctutating in a narrow range and was quoted between 40.12 and 40.20 per dollar during the session.

Reserve Bank of India today fixed the reference rate for US Dollar at Rs 40.14, down by four paise from previous day's rate of Rs 40.18 per USD.

The six-month premium was quoted at 2.74/76 (2.76/78) per cent and annualised premium closed at 2.22/24 (2.20/22) per cent.

The local currency ended the session at 62.72/74/62 (63.60/62) against the Euro. It closed at 79.90/92 (79.64/66) per unit against the Pound Sterling. The local unit closed at 38.36/38 (38.38/40) per hundred units against the Japanese Yen, dealers added. UNI AR OBB AG1903