Rupee lower by 2 paise at 55.12 against dollar
higher levels. A firmer equity markets which rebounded from its lows also supported the recovery in rupee."
Goenka added, "The rupee was seen touching over nine week low on account of declining Euro as nothing concrete was announced after the brainstorming session from the Euro group members.
"The weakness in Japanese yen further added to the strength of dollar index. Overall we still maintain a bearish view on rupee. Importers should go long on any dip coming in the market".
The premium for the forward dollar ended with small changed either side.
The benchmark six-month forward dollar premium payable in April eased to 142-144 paise from Tuesday's close of 143-145 paise while far-forward contracts maturing in October inched up to 283-1/2-285-1/2 from 283-285 paise. The RBI has fixed the reference rate for the US dollar at 55.2025 and for euro at 70.4255.
The rupee softened further against the pound sterling to 87.77 from yesterday's close of 87.75 and also moved down to 70.60 per euro from 70.56. It, however, remained firm against the Japanese yen to 66.96 per 100 yen from overnight close of 67.73.
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