Rupee inches up four paise against USD

Published: Tuesday, February 12, 2008, 19:34 [IST]
 

Mumbai, Feb 12: The Rupee today inched up by three paise against the US Dollar to close at 39.66/67 as compared to its previous close of 39.69/70 amid choppy trade in the local market.

After resuming relatively firm against the greenback, the partially convertible Indian currency traded in range-bound gap of five to six paise against dollar, before ending the day on firm note, dealers said. The local unit was rangebound between 39.61 and 39.67 per dollar throughout the day, despite the local equity market being highly volatile on bouts of alternate buying and selling, dealers added.

Meanwhile, the forward primia for six months closed lower at 0.6 (0.8) per cent and annualised primia closed at 1.02 (1.2) per cent. The Reserve Bank of India today fixed the reference rate for the US dollar lower at Rs 39.65 as compared to previous Rs 39.73.

The Indian unit ended slightly higher at 57.72/73 (57.78/79) against the Euro. Rupee closed flat at 77.43/44 per unit against the Pound Sterling. It ended the day at 37.00 (37.21/22) per hundred units against the Japanese Yen.

UNI

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