Rupee ends down by 12 paise versus dollar

Paring its early gains, the rupee today lost 12 paise to close at 45.24/25 against the US currency due to late dollar buying by banks and importers amid weak equity markets.

Demand for dollar is on the rise from importers in view of surging crude oil prices in the international markets, a dealer said.

Crude oil prices were hovering above $91 a barrel in Asia after some OPEC ministers indicated that they did not plan to boost output.

At the Interbank Foreign Exchange (Forex) market, the local unit opened higher at 45.08/10 a dollar against last closing level of 45.12/13 per dollar and moved up further to a day's high at 45.05.

However, it declined to 45.28 on late dollar demand from banks and mainly importers before ending at 45.24/25 per dollar. It moved in a range of 45.05 - 45.28 per dollar during the day.

The Bombay Stock Exchange benchmark Sensex fell by 45 points or 0.22%.

The rupee premium for the forward dollar ended steady to eased on fresh receivings from exporters. The benchmark six-month forward dollar premium payable in May closed slightly lower at 126-1/2-127-1/2 paise as against 127-128 paise previously.

Far-forward contracts maturing in November maintained steady at 237-239 paise.

The Reserve Bank of India fixed the reference rate for the dollar at Rs 45.15 and the euro at Rs59.32.

The rupee dropped further against the pound sterling to Rs69.85/87 as against 69.64/66 on last Friday and fell against the euro to Rs59.52/54 from Rs59.22/24 per euro previously.

It also declined against the Japanese Yen to Rs54.63/65 per 100 yen from 54.42/44 per 100 yen previously.