Rupee closes at 43.30/31 per USD

Mumbai, July 3 (UNI) The Rupee today inched towards a 15-month low and closed weaker at 43.30/31 against the US Dollar, losing about 14 paise from its previous close of 43.16/17, on concerns that oil prices at a fresh record high would further boost demand for dollars.

Partially convertible Indian currency headed towards weaker trend on account of global crude oil prices hitting over USD 145 per barrel. The Rupee also weakened due to sharp fall in the key indices of stock market, erasing almost all of its gains yesterday, dealers said.

Further, dealers were of the view that Rupee may weaken to as low as level of 44.00 per dollar in the future session as the oil prices are shooting up beyond expectation.

RBI today fixed the reference rate for US Dollar at Rs 43.30 per unit, down four paise from yesterday's close of 43.34 per USD.

The six-month and annualised premium was quoted lower at 4.77 (4.87) per cent and 4.13 (4.23) per cent respectively.

However, Rupee ended the day weaker at 68.37 (68.24) per unit against Euro. It closed at 85.68 (85.78/79) per unit against the Pound Sterling and ended flat at 40.52 per hundred units against the Japanese Yen.

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