Today: Currency Rate for Rupee

Rupee ends at fresh low at 42.75/76 against USD
 
Mumbai, May 15 (UNI) The Rupee today further depreciated by 31 paise against the US Dollar and closed at a fresh 13-month low at 42.75/76 from its previous close of 42.44/45.

The partially convertible Indian Rupee weakened against the greenback for the fourth straight day. Though, it had recovered in mid-morning trade, it slid in late trade amidst alternate bouts of buying and selling of dollars in the currency market, dealers said.

Foreign and national banks were seen selling dollars, which helped the Rupee to move up against the US currency in the first-half of the session. The local unit touched a day's high at 42.31 against dollar in afternoon trade.

''Reportedly, the demand created by Non Deliverable Forward (NDF) market dragged Indian currency down at a fresh 13-month low against dollar in the last half an hour of the session,'' a senior dealer with a leading private sector bank said adding that rupee is expected to remain at the low levels in the future sessions.

Rupee has fallen 8.7 percent in the past six months as oil prices advanced 34 percent. Oil imports rose to a record USD 8.6 billion in March, government data shows.

Meanwhile, Reserve Bank of India today fixed the reference rate for US Dollar at Rs 42.40, higher by 7 paise from previous rate of Rs 42.33 per USD. The six-month premium was quoted lower at 1.38 (1.77) per cent and annualised premium closed at 1.19 (1.37) per cent.

Rupee ended the day on a weak note at 66.05 (65.42) per unit against Euro. It closed at 82.85 (82.31) per unit against the Pound Sterling and ended at 40.65 (40.25) per hundred units against the Japanese Yen.