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Rupee rolls down five paise to Rs 42.81 vs $

Political uncertainty. This single factor has been rocking the stock and forex markets for quite some time. Today was no different. The rupee plunged to Rs 42.86 to the US $ during the day, but recovered in the evening to end the day at Rs 42.79/81, down five paise from Monday's close.

The day saw active trading. The rupee opened at Rs 42.78/81 from the previous close of Rs 42.74.79, touched the day's low of 42.85/86, but it recovered partially on dollar selling spree by State Bank of India.

The Reserve Bank of India also tried to arrest the rupee's fall by selling forward dollars particularly in July and October deliveries, senior dealers at the Mecklai and Mecklai said.

The apex bank, however, fixed the reference rate at Rs 42.83 per dollar, nearly 12 paise higher from the previous rate of Rs 42.71.

The monthly forward premia in paise were quoted at 7-8 for April, May 30-32, June 54-56, July 80-82, August 106-108, September 134-136, October 164-166, November 194-197, December 224-227, January 254-257, February 281-284 and March 306-311.

The rupee traded in a narrow range against the world's major currencies in absence of lack of trading interest.

The currency closed at Rs 46.14 per euro, Rs 69.04 for a British pound and Rs 35.96 for a Japanese yen (100 units). UNI

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