Rupee gains 15 paise, ends at 43.15/16

Mumbai, July 4 (UNI) The Rupee today gained about 15 paise to close at 43.15/16 per US Dollar against previous close of 43.30/31 following sharp gains in the stock market.

The Indian currency strengthened against the greenback as local bourses bouced back into positive zone on renewed hopes of some capital inflows, dealers said.

Rupee had hit a 15-month low of 43.50 on Tuesday, due to sharp decline in stock market coupled with oil prices hitting record highs, dealers added.

Sensex today recovered 2.75 percent after shedding 4.2 percent in the previous session.

It is also being speculated by the market analysts that the global crude oil prices would even hit over USD 150 per barrel that is likely to lead to a strong downward pressure on the local unit in the future sessions. However, they also expect intervention by the Reserve bank to prevent sharp deppreciation aginst the dollar.

RBI today fixed the reference rate for US Dollar at Rs 43.21 per unit, down nine paise from yesterday's close of 43.30 per USD.

The six-month and annualised premium was quoted lower at 4.49 (4.77) per cent and 3.92 (4.14) per cent respectively.

However, Rupee ended the day stronger at 67.65/66 (68.37) per unit against Euro. It closed at 85.51/52 (85.68) per unit against the Pound Sterling and ended at 40.44/45 (40.52) per hundred units against the Japanese Yen.

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