Mumbai, July 8 (UNI) The Rupee today closed slightly stronger at 43.26/27 against the US Dollar from its previous close of 43.29/30, after the Left parties announced its withdrawal from the Congress-led UPA government at the centre.
The partially convertible Indian unit posted a strong recovery from a day's low of 42.42 per dollar, hit in early trade, following a smart recovery from day's low in the stock market but still ending about 176 points down after the left parties pulled out their support for the ruling coalition, dealers said.
Dealers said that Reserve Bank was also seen selling dollars in the market through state-run banks at around 43.40/41 level in order to prevent further fall of rupee aginst the greenback.
Meanwhile, RBI today fixed the reference rate for US Dollar at Rs 43.37 per unit, up by 25 paise from yesterday's close of 43.12 per USD.
The six-month and annualised premium was quoted lower at 4.20 (4.41) per cent and 3.77 (3.92) per cent respectively.
Rupee ended the day weaker at 67.87/88 (67.76/77) per unit against Euro. It closed at 85.41/42 (85.12) per unit against the Pound Sterling and ended at 40.37 (40.21/22) per hundred units against the Japanese Yen.
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