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Rupee gains marginally

The currency opened at Rs 39.51-515, and quoted higher at Rs 39.48 per dollar following dollar selling pressure by leading nationalised bank. However, the major market player State Bank of India entered the market and finally settled the market at Rs 39.49-51, forex dealers said.

Cash-spot business was done at higher level of 2 paise premium in view of the four-day transaction, dealers said.

The State Bank of India made marginal dollar purchases during the course of the day, dealers said.

Sixth month forward premia closed at 7.48 per cent while 1-yearly premia ended at 8.01 per cent.

Forward premia in paise were quoted at 25-26 for April, 43-46 for May, 65-67 for June, 88-90 for July, 116-119 for August, 146-150 for September, 177-180 for October, 208-211 for November, 236-241 for December, 266-271 for January , 287-292 for February.

The rupee quoted at Rs 66.55 against British pound, moved in a narrow range of Rs 21.69-71 against the German mark and was quoted between Rs 30.55 and Rs 30.65 per Rs 100 against the Japanese yen.

Elsewhere, the Reserve Bank of India fixed reference rate at Rs 39.50 per US dollar.

UNI