Rupee closes firm at 42.89/90 against USD

Mumbai, June 17: The Rupee today closed at 42.89/90 against the US Dollar, gaining six paise from its previous close of 42.95/96 on positive cues in the stock market.

The Indian currecy started firm at 42.92/93 per dollar and was range bound during the day. However, in the second half of the session it moved northward as the Indian bourses pared gains due to fresh inflows, dealers said. Reserve Bank of India (RBI) today fixed the reference rate for US Dollar at Rs 42.92 per unit, two paise up as compared to previous rate Rs 42.90 per unit.

Meanwhile, the six-month and annualised premium was quoted considerably down at 2.58 (2.90) per cent and 2.26 (2.58) per cent, respectively on account of less demand for dollars.

Rupee ended the day stronger at 66.25/26 (66.43/44) per unit against Euro. It closed firm at 83.37/38 (84.33) per unit against the Pound Sterling and ended at 39.50/51 (39.67/68) per hundred units against the Japanese Yen.

UNI