The US dollar ended cheaper against the rupee at Rs 42. Meanwhile, the Reserve Bank of India (RBI) fixed the reference rate for US dollar at Rs 42. The rupee premiums on forward dollar continued its slide for another day and ended sharply down due to sustained receivings by exporters. The benchmark six-month forward dollar premium payable in November ended at 46-1/2 – 48-1/2 paise, lower from 57 ?” 59 paise on Monday and the far-forward maturing in May closed down at 92 – 94 paise from 106 – 108 paise previously. The domestic currency bounced back with a vengeance against the pound sterling and ended higher at Rs 83. read more
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