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Market quiet; rupee slips a tad, 43.40 vs $

• Rs 43.40 vs $
• Rs 44.39 vs euro
• Rs 68.35 vs pound
• Rs 35.81 vs yen (100)

Rupee ended marginally lower against the greenback in a quiet interbank foreign exchange market today.

The currency opened at Rs 43.37/39 per dollar, nearly steady from the previous close of Rs 43.3750/3775, and moved in a narrow range of Rs 43.38/39 for most part of the day.

Towards the end of trading, the rupee lost by about three paise to close at Rs 43.39/40 a dollar due to last minute demand for greenback from corporates, dealers said.

Cash to spot business was done at 1.75-2.00 paise premium.

The six-month annualised forward premia closed lower at 5.13 per cent from yesterday's close of 5.22 per cent while the 1-year annualised premia too declined at 5.88 per cent from 6.06 per cent, they said.

Month-wise forward premia in paise for July went at 12-13, August 30-32, September 49.52, October 68-70, November 88-90, December 106-108 paise respectively.

In the cross currency deals, the rupee posted smart gain against euro, pound sterling and Japanese yen.

The rupee ended at Rs 44.39 against euro from the previous close of Rs 44.87, while it finished higher at 68.35 against the UK pound and at Rs 35.81 against Japanese yen from the previous finish of Rs 35.89.

The Reserve Bank of India maintained the reference rate for the US dollar at Rs 43.38 per unit.

UNI

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