Rupee closes at over a week's high at 42.99/43.00 per USD

Mumbai, July 10 (UNI) The Rupee today further gained twelve paise to close at over a week's high at 42.99/43.00 against the US Dollar as global oil prices remained steady to improve the market sentiments.

The local unit rose to its strongest in nearly 10 days as global crude prices were steady at around USD 136 per barrel and easing political uncertainty, helped boost the sentiment, dealers said.

After opening weaker at 43.16/17 per dollar as compared to previous close of 43.12/13, the Rupee traded in a wider range band between 42.90 and 43.24 against the greenback amidst strong bouts of volatility. However, it finally ended firm as strong selling of dollars by the foreign banks and corporates was witnessed in an active interbank foreign exchange market, dealers added.

However, RBI today fixed the reference rate for US Dollar higher at Rs 43.16 per unit, up by thee paise from yesterday's close of 43.13 per USD.

The six-month and annualised premium was quoted higher at 4.68 (4.15) per cent and 4.10 (3.66) per cent respectively.

Rupee ended the day stronger at 67.45 (67.70) per unit against Euro. It closed at 84.82 (85.05) per unit against the Pound Sterling and ended at 40.04 (41.10) per hundred units against the Japanese Yen.

UNI PP OBB AG1842