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Sustained $-buying by banks weakens rupee by five paise

• Rs 43.37 vs $
• Rs 46.15 vs euro
• Rs 70.02 vs pound
• Rs 37.59 vs yen (100)

The rupee weakened by five paise on sustained dollar buying by a few banks in an active trading session at the interbank foreign exchange market today.

The rupee opened at Rs 43.33/34 a dollar. It fell to Rs 43.37/38 prior to mid-session, when SBI and some foreign banks entered the market to buy the greenback. It finally ended at Rs 43.36/37 as against the previous close of Rs 43.33/34.

Cash/spot ended at 0.75-1.00 paise, while cash/tomorrow and tomorrow/spot at 0.25-0.50 paise.

The monthly premia in paise ended at 12-13 for August, 26-27 for September, 42-43 for October, 57-58 for November, 73-74 for December, 93-94 for January and 107-108 for February.

The six-month annualised premia ended at 4.38 per cent.

The rupee ended at Rs 46.15 a euro, Rs 37.59 to 100 yen and Rs 70.02 a pound sterling.

The Reserve Bank of India fixed the reference rate at Rs 43.38 per US dollar as against the previous fix of Rs 43.32.

UNI

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