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Rupee ends a notch up vs $; Rs 42.48

The rupee ended a notch stronger against the greenback at the interbank foreign exchange market today.

Opening at Rs 42.4950/5050, the Indian unit touched Rs 42.4850 during the day. The rupee's low point was Rs 42.5150, dealers said. The rupee finally, ended at Rs 42.4850, around a paisa higher than Friday's close of Rs 42.49/50. ''There was negligible demand from the market participants,'' said a dealer.

The forwards were dull with the monthly premia (in paise) ending at 5-7 for January, 22-24 for February, 44-47 for March, 70-73 for April, 91-94 for May, 116-119 for June, 143-146 for July and 169-171 for August.

The six-month annualised premia ended at 6.44 per cent.

Cash/spot and cash/tomorrow were not quoted as the New York market was closed. Tomorrow/spot ended at 0.75-1.00 paise.

In early trading at the Tokyo forex market, the dollar bought 113.44 yen, down 0.02 yen from late in Tokyo on Thursday and also below its late level Friday in New York of 114.13 yen.

Back home, the Reserve Bank of India fixed the reference rate at Rs 42.50 per us dollar from the previous fix of Rs 42.47.

The pound sterling ended at Rs 70.27, euro at Rs 49.25 and Japanese yen at Rs 37.02 against the rupee.

UNI

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