Rupee ends low at 50.08 per dollar

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Mumbai, Nov 28 (UNI) The rupee today ended softer at 50.08 against per US dollar, with a small loss of 58 paise from it last finish of 49.50 on Wednesday on month-end dollar demand from importers, but trading volumes were low, dealers said.

The rupee again came under pressure after a strong two-day recovery and fell to 49.95/96 against the greenback, 45 paise cheaper than its previous close, on fresh dollar demand and fears of more capital outflows after Wednesday's terror strikes on the commercial capital.

The domestic currency resumed trading weak at 49.65/69 a dollar from its last close of 49.50/51 a dollar and later tumbled to 49.95/96 a dollar at mid morning session.

There were no transactions and settlements in government securities, foreign exchange and money markets yesterday, as all markets remained closed after the biggest terrorist attack on the country's business hub, killing over a hundred people, according to latest reports. Foreign exchange dealers said oil refiners were believed to be buyers at the initial trading amid fears of increased capital outflows.

However,the Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 49.84 per unit, down by one paisa, against its Wednesday's rate of Rs 49.85 per dollar. Even, the reference rate for Euro fell by 30 paise to Rs 64.38 per unit from its last close of Rs 64.68 per unit, an RBI release said.

Meanwhile, the six-month and annualised forward dollar premiums were lower by 2.98 (3.32) per cent and 1.98 (2.18) per cent respectively.

The Rupee closed downward at 64.07/09 (63.88/90 ) per unit against the Euro. It closed at 76.92/94 (75.62/74) per unit against the Pound Sterling and at 52.52/54 (51.72/74) per hundred units aginst the Japanese Yen, brokers added.


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