Rupee ends down at 43.93 per USD

Mumbai, Aug 29 (UNI) The Rupee today closed softer at 43.93/94 per dollar with a loss of nearly 15 paise from previous close of 43.78/80, on sustained heavy dollar demand from foreign banks and the oil sector.

Dealers said ''The currency weakened at the end of the session as dollar demand from importers and oil refiners, facing month-end payments, gathered pace, but expectations of central bank intervention limited the losses.

The Rupee resumed high at 43.70 per dollar, later it recorded the day's high and a low at 43.92 and 43.68 respectivvely and finally ended lower at 43.93/94 per dollar. It had hit a 17-month low of 44.26 earlier in the week.

Meanwhile, the Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 43.79 per unit, six paise up against yesterday's rate of Rs 43.73 per dollar.

The six-month and annualised forward dollar premium was quoted higher at 3.32 (3.20) per cent and2.94 (2.74) per cent, respectively.

The Rupee ended the day at 64.34/36(64.62/64) per unit against the Euro. It closed at 79.94/96 (80.32/34) per unit against the Pound Sterling. Rupee ended at 40.22/24 (39.96/98) per hundred units against the Japanese Yen.

UNI AR OBB NP1850