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Rupee steady in dull market; Rs 42.43 vs $

The rupee remained steady against the US greenback, amid thinly traded volumes at the interbank foreign exchange market today.

The rupee opened at Rs 42.43/4325, hovered in the same range throughout the day with just half paisa movement on both sides as the market witnessed very lower activity on the last day of the fiscal year today.

It ended steady at Rs 42.43/4325, the same level of the previous closing. Dealers said demand and supply was moderate and matching of both kept the rupee steady.

Forward premia further declined in the absence of paying pressure and scattered receivings. Monthly premia eased by 4-5 paise. The six-month and yearly annualised premia ended lower at 6.57 per cent and 7.09 per cent respectively from the previous 6.73 and 7.24 per cent.

Cash/spot and cash/tomorrow ended higher at 8-8.50 and 7-8 paise premium as the call rates ruled higher at the call money market. The month-wise premia in paise were: April 13-15, May 35-38, June 57-60, July 83-86, August 107-110, September 133-135, October 160-162, November 188-191, December 216-219, January 244-247, February 269-272 and March 295-298.

The rupee ended at Rs 68.35 against the British pound, at Rs 35.64 against the Japanese yen (100 units) and at Rs 45.46 against the euro.

UNI

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