Rupee closes up at 49.46 per US dollar

Mumbai, Oct 31 (UNI) The Rupee today ended firm at 49.46 against the US dollar with a gain of 20 paise from its last close on sustained dollar selling pressure by local operators.

After the 'Bhau beej holiday', Rupee resumed high at 49.50 and later fluctuated in a narrow range between 49.24 and 49.52 in intra day trade.

Dealers said Rupee rose to its highest in a week today, tracking gains in other Asian currencies and a rally in the local stock market but dollar demand from oil refiners prevent a further rise.

However, the Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 49.25 per unit, down by 52 paise, against yesterday's rate of Rs 49.77 per dollar.

Similarly, the reference rate for Euro also declined by Rs 52 paise to Rs 62.84 per unit from its last close of Rs 63.36 per unit, a RBI release said.

Meanwhile, the six-month and annualised forward dollar premiums were lower by 2.28 (2.40) per cent and 1.56 (1.66) per cent respectively.

The Rupee rallied further at 62.70/72 (63.60/62) per unit against the Euro. It closed at 79.72/74 (79.70/72 ) per unit against the Pound Sterling and at 50/42/44 (51.18/20) per hundred units against the Japanese Yen, brokers added.

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