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Rupee edges a notch up on poor demand for $; Rs 42.53/54

The rupee edged a notch up on poor demand for the greenback at the interbank foreign exchange (forex) market.

The Indian unit opened at Rs 42.5450/5550 and appreciated to Rs 42.5250 during the day and finally ended at Rs 42.53/54 a dollar, showing a gain of one paise.

The monthly forwards (in paise) were 5-7 for December, 25-28 for January, 49-52 for February, 79-82 for March, 111-115 for April, 141-145 for May and 173-176 for June. The six-month annualised premia ended at 7.66 per cent.

Cash/spot closed at 1-1.25 paise, cash/tomorrow at 0.25-0.50 paise and tomorrow/spot at 0.25-0.50 paise.

The rupee, meanwhile, ended at Rs 71.46 against pound sterling, Rs 36.77 against yen and Rs 25.66 against deutsche mark in the local market. The Reserve Bank of India fixed the reference rate at Rs 42.55 a dollar from the previous Rs 42.57.

UNI

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