Rupee closes flat at 42.89/90 against USD

Mumbai, June 18 (UNI) The Rupee today held steady throughout the day and closed flat at 42.89/90 against the US Dollar on uncertainties in the stock market.

The partially convertible Indian currency barely moved amidst subdued market sentiments on high oil prices and expected intervention by the Central Bank to prevent sharp fall of the Rupee against greenback, dealers said adding that the local unit was strictly rangebound within a gap of two-three paise as there was niether demand nor supply in the inter-bank foreign exchange market.

Reserve Bank of India (RBI) today fixed the reference rate for US Dollar at Rs 42.90 per unit, two paise down as compared to previous rate Rs 42.92 per unit.

Meanwhile, the six-month and annualised premium was quoted higher at 2.75 (2.58) per cent and 2.50 (2.26) per cent, respectively.

Rupee ended the day weaker at 66.30/31 (66.25/26) per unit against Euro. It closed firm at 83.55/57 (83.37/38) per unit against the Pound Sterling and ended at 39.56/57 (39.50/51) per hundred units against the Japanese Yen.

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