Rupee ends flat, outlook positive | business | Hindustan Times
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Rupee ends flat, outlook positive

Wednesday's closing for rupee is the strongest level since 61.1 against US dollar on October 13, 2014. In the forwards market, premium recovered on fresh payments by banks and corporates.

business Updated: Oct 22, 2014 18:43 IST

Wednesday's closing for rupee is the strongest level since 61.1 against US dollar on October 13, 2014.

In the forwards market, premium recovered on fresh payments by banks and corporates.

The benchmark six-month premium payable in March edged up to 200.5-202.5 paise from 199-201 paise previously. Far-forward contracts maturing in September, 2015 also rose to 421.5-423.5 paise from 414.5-416.5 paise.

The Reserve Bank of India fixed the reference rate for dollar at 61.2355 and for the Euro at 77.9650.

The rupee bounced back against the pound to 98.36 from 99.05 on Tuesday and also rebounded to 57.30 per 100 Japanese yen from 57.43 while remained firm to end at 77.87 per euro from 78.18.

The Forex and Money markets will remain closed tomorrow and day after tomorrow, October 23 and 24, 2014, on account of local holidays.