Rupee holds steady

The Indian rupee held its ground against the U S greenback in a lacklustre and lethargic trading at the interbank foreign exchange market on Thursday.

The rupee opened at the Wednesday's close, Rs 35.8150/8250 per U S dollar. It did not budge from its position throughout the day and closed at the same level.

The demand for the U S unit was low, despite sufficient supply, and the undercurrent in the market was quiet and subdued.

There was no intervention from the Reserve Bank.

The cash spot was quoted at a discount of 0.0125 paisa in the forward section. Spot July was at a premium of level and one paisa, July dollar at 8 and 9 paise and December dollar at 76 and 78 paise.

The six-month annualised premia was at 4.35 per cent.

The oversees markets were reported dull with not much movement in the major currencies of the world.

The pound closed at Rs 58.80, deutsche mark at Rs 20.69 and Japanese yen at Rs 31.63 per 100 yen.

Elsewhere, the RBI fixed the reference rate at Rs 35.82 per U S dollar.

UNI