Rupee ends low at 42.49/50 against USD

Mumbai, Aug 4 (UNI) The spot Rupee today ended low at Rs 42.49/50 against the US dollar with a net loss of 14 paise from friday's close of 42.35/36 on increased dollar selling by bankers.

Traders said the Rupee eased as losses in the share market hurt sentiment and investors were worried that a lift in oil prices from recent lows would spur dollar demand and further widen the trade deficit.

Meanwhile, Rupee opened negative at 42.44/46 against the USD and later it fluctuated between 42.35 and 42.51 per USD during the session. It finally ended at 42.49/50 per dollar, 0.3 percent weaker than 42.35/36 at close on Friday.

Dealers expect the Rupee's near-term prospects to be dictated by moves in global oil prices. Oil was trading near USD 121 a barrel today.

The six-month and annualised forward premium was quoted at 4.20 (4.68) per cent and3.55 (3.96) per cent, respectively.

Rupee ended the day stronger at 66.03/.05 (65.96/98) per unit against the Euro. It closed at 83.37/39 (83.74/76) per unit against the Pound Sterling. Rupee ended at 39.20/22 (39.40/42) per hundred units against the Japanese Yen.

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