Indian Rupee ends 11 paise up against dollar

2ND LD RUPEE
Mumbai, Feb 7 (PTI) The rupee continued to rule firm for
the fifth straight day on Monday against the US currency by
gaining 11 paise to end at 45.48/49 on persistent dollar sale
by banks and corporates on the back of a weak greenback
overseas.
Forex dealers said that the US dollar lost some ground to
its European counterpart in Asian trade though investors
appeared more concerned about the euro's downside risks than
its upside potential.
The euro sentiment strengthened with the French Finance
Minister Christine Lagarde saying on Sunday that global
foreign-exchange imbalances must be tackled, as the euro is
the victim of a weak US dollar and Chinese yuan.
Meanwhile, crude oil was traded below USD 90 a barrel
in the Asian trade.
The Bombay Stock Exchange benchmark Sensex ended slightly
higher by 29.04 points or 0.16 per cent.
The domestic unit opened lower at 45.61/62 per dollar on
mild dollar demand from importers as against last weekend's
close of 45.59/60 per dollar but later it recovered to a high
of 45.45 on selling of dollars by exporters and banks before
ending at 45.48/49 per dollar.
It moved in a range of 45.45 per dollar and 45.65 per
dollar during the day.
The rupee premium for the forward dollar ended weak on
fresh receivings by exporters. The benchmark six-month forward
dollar premium payable in July closed lower at 135-1/2-137-1/2
from 138-140 paise on last Friday and far-forward contracts
maturing in January finished down at 270-272 paise from
271-273 paise previously.
The Reserve Bank of India has fixed the reference rate
for the dollar at Rs 45.59 and the euro at Rs 62.04.
The rupee moved up further to Rs 73.25/27 against the
pound sterling from last Friday's close of Rs 73.50/52 and
also firmed up to Rs 61.63/65 per euro from Rs 62.14/16
previously.
However, it recovered against the yen to Rs 55.23/25 per
100 yen from its last close of Rs 55.86/88.