Mumbai, Dec 8 (UNI) The Rupee today ended flat at 49.58/59 against the US dollar even though the stock market rose after a fiscal stimulus package was announced by the government.
The Rupee opened higher by 35 paise at 49.25 for the fifth consecutive session against the US currency on dollar selling by banks and fresh inflow of funds as market sentiment was up after the government's announcement of the stimulus package. Later, it fluctuated in a narrow range between 49.20 and 49.60 in intra day trade.
However, the Reserve Bank of India (RBI) today fixed the reference rate for US dollar at Rs 49.22 per unit, down by 47 paise from Friday's rate at Rs 49.69 per dollar. Similarly, the reference rate for Euro declined by 32 paise at Rs 63.14 per unit from its last close of Rs 63.46 per unit, a RBI release said.
Meanwhile, the six-month and annualised forward dollar premiums were higher by 3.02 (2.60) per cent and 2.10 (1.82) per cent respectively.
The Rupee closed steady at 63.80/82 (62.72/74) per unit against the Euro. It closed at 73.88/90 (72.50/52) per unit against the Pound Sterling and at 53.02/04 (53.72/74) per hundred units aginst the Japanese Yen, brokers added.
