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Rupee steady

The spot dollar opened at Rs 39.69-71, gradually went up to Rs 39.72-74 due to good demand from corporate sectors and banks during the initial stage, before closing down at Rs 39.68-69, the same as yesterday, leading forex dealers said.

The forward premiums see-sawed, shooting up by 10 paise in the morning session on hectic paying pressure from the exporters. Then, due to heavy receiving pressure at the fag end, all the maturities came down and closed at yesterday's level.

A nominal amount of export and import booking was conducted in cash to spot basis and marginal amount of export booking was done in the near forward basis in merchant section.

The cash to spot dollar was quoted at 1-1.5 paise premium. The monthwise premiums were traded in paise are: 2-3 for April, 17-18 for may, 39-42 for June, 64-67 for July, 95-97 for August, 128-161 for September, 158-161 for October, 186-191 for November and 217-222 for December.

The pound sterling increased to Rs 67.01, mark was at Rs 22.02 and yen at Rs 30.10 per 100 in the cross currency section.

The Reserve Bank of India's fixed reference rate for the US dollar at Rs 39.71 as against Rs 39.73 on the last working day.

UNI