Rupee ends low at 45.95 per US dollar

Mumbai, Sep 24 (UNI) The Rupee today closed low at 45.95 against the US dollar on heavy dollar selling pressure by local operators due to the Nationwide bank strike.

Dealers said the Rupee was rangebound in afternoon trade as volumes were low on account of the bank employees' strike but there was some good dollar demand from importers.

The partially convertible Rupee opened at 45.72 and later fluctuated in a narrow range between 45.70 and 46.10 per dollar during the session, but volume of business very thin due to bankers strike.

Traders said that ''Rupee fell past 46 per dollar as banks bought the U.S. unit locally to sell at higher rates offshore, but suspected central bank intervention helped recover some of the losses.

Meanwhile, the Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 45.83 per unit, increasing by 11 paise, against yesterday's rate of Rs 45.72 per dollar.

The reference rate for Euro fell by 34 paise at Rs 67.26 per unit, from yesterday's close of Rs 67.60 per unit, a RBI release stated.

However. The six-month and annualised forward dollar premium was quoted higher at 1.66 (1.55) per cent and 1.35 (1.32) per cent respectively.

The Rupee ended the day a loser at 67.12/14 (67.20/22) per unit against the Euro. It closed at 84.74/76 (84.54/56) per unit against the Pound Sterling. Rupee ended at 43.14/16 (43.20/22) per hundred units against the Japanese Yen.

UNI AR OBB NP1904