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Market quiet; rupee steady, 43.38 vs $

• Rs 43.38 vs $
• Rs 44.77 vs euro
• Rs 68.56 vs pound
• Rs 35.89 vs yen (100)

Indian rupee remained nearly steady against the US dollar in a quiet interbank foreign exchange market today.

The currency opened at Rs 43.3600/3700 per dollar, declined marginally at noon to touch Rs 43.3775/3800 level. However, the Indian unit recovered slightly towards the close at Rs 43.3750/3775 per dollar.

State Bank of India did not participate actively, while there was not much demand for dollars from corporate clients, dealers said.

Cash-spot was traded in the region of 2.00-2.25 paise premium. Cash-tomorrow quoted at 0.25-0.50 paise premium.

Month-wise forward premia in paise were July 12.50-13.50, August 31-33, September 51-52, October 70-72, November 90-92 and December 109-111.

The sixth-month annualised premia ended at 5.22 per cent while one-year annualised quoted at 6.06 per cent.

In the cross currency deals, the Indian unit declined moderately against euro and pound sterling while it remained steady against the Japanese yen from the previous levels. The rupee ended at Rs 44.87 (44.77) per euro, Rs 68.56 (68.33) per pound, and rs 35.89 (35.89) against the yen.

The Reserve Bank of India has fixed the reference rate for the US dollar at Rs 43.38 as against previous day's rate of Rs 43.36 per unit.

UNI

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