The rupee today improved further by 5 paise against the U.S. currency to close at 45.04/05 on sustained dollar selling by exporters and banks amidst bounce back in local equity markets.
Dealers said sustained dollar selling by exporters and sudden spurt in equities helped the rupee sentiment.
The BSE benchmark Sensex today ended shot up by 230.61 points or 1.15 per cent from its previous close.
Weakness in the dollar overseas also supported the rupee movement, dealers said.
At the Interbank Foreign Exchange (Forex) market, the local unit opened lower at 45.12/13 a dollar from its last close of 45.09/10. It turned weak due to some month-end dollar demand from importers and touched a low 45.20 a dollar.
However, it recovered later to the day’s high of 45.0150 before concluding at 45.04/05 a dollar.
Meanwhile, global crude oil was trading below USD 91 a barrel in overseas today.
The rupee premium for the forward dollar ended lower on fresh receiving’s by exporters. The benchmark six-month forward dollar premium payable in June closed lower at 144-146 paise as against 147-149 paise previously.
Far-forward contracts maturing in December also down at 252-254 paise from 254-256 paise on Tuesday.
Reserve Bank of India fixed the reference rate for the dollar at Rs. 45.12 and the euro at Rs. 59.22.
The rupee improved further against the pound sterling to Rs. 69.32/34 as against Rs. 69.75/77 yesterday, while it recovered against the euro to Rs. 59.12/14 per euro from Rs. 59.81/83 previously.
It also firmed up against the Japanese Yen to Rs. 54.87/89 per 100 yen from 55.10/12 yesterday.
