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Rupee slips a tad to Rs 43.36/37

• Rs 43.37 vs $
• Rs 45.03 vs euro
• Rs 68.58 vs pound
• Rs 35.76 vs yen (100)

The Indian rupee declined marginally against the greenback at the interbank foreign exchange market today.

The currency opened on a firm note at Rs 43.32/34, higher from the Friday's close of Rs 43.35/36 per dollar, declined sharply to Rs 43.36/38 level on a news agency report that Indian forces have crossed the Line of Control (loc) in Kargil, dealers said.

The rupee later closed at Rs 43.36/37, registering a decline of one paisa from the previous close.

State Bank of India did not participate actively, dealers said and added that good corporate dollar buying was witnessed during the day.

Cash-spot business was done at 1.50-1.75 paise premium and cash-tomorrow traded between 0.75-0.50 paise premium respectively.

The monthly forward premium in paise were quoted at July 17-19, August 37-39, September 57-59, October 76-79, November 96-99, December 114-116, January 143-146, February 168-171 and March 194-197 respectively.

The six months annualised forward premia in percentage closed at 5.31 per cent from the previous close of 5.60.

The one-year-annualised premia closed at 6.26 per cent.

The Indian unit staged a smart recovery against euro and pound sterling while it closed marginally lower against the Japanese yen.

The rupee closed at Rs 45.03 per euro from the previous close of Rs 45.30. It finished at Rs 68.58 per pound from the Friday's close of Rs 68.92.

The currency closed one paise lower at Rs 35.76 against the Japanese yen from the previous close of Rs 35.75 (100 yen).

The Reserve Bank of India fixed the reference rate for the US dollar at Rs 43.36 per unit as against Friday's rate of Rs 43.39.

UNI

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