Mumbai: In lacklustre trade, the Indian rupee on Monday closed one paisa down at 60.82 against the US dollar on alternate bouts of demand and supply, snapping a four-day rising trend.
At the Interbank Foreign Exchange market (Forex), the domestic unit commenced lower at 60.85 a dollar from previous close of 60.81. It was trapped in a range of 60.7425 and 60.88 before concluding at 60.82, showing a minor fall of one paisa.
In previous four days, it had risen by 32 paise.
The benchmark S&P BSE Sensex today washed out initial sharp losses and gained 116.32 points to end at two-week high. FIIs bought shares worth USD 18.48 million last Friday, as per Sebi data.
The dollar index was down 0.04 percent against its major global rivals.
Pramit Brahmbhatt, Veracity Group CEO, said: "Rupee traded in a thin range and ended flat. Rupee is expected to appreciate in coming days tracking gains in local equities. The trading range for the spot rupee is expected to be within 60.30 to 61.30."
In forward market, premium declined on receipts by exporters.
The benchmark six-month premium payable in February eased to 219.5-221.5 paise from Friday's close of 221.5-223.5 paise.
Far-forward contracts maturing in August, 2015 declined to 477-479 paise from 479.5-481.5 paise.
The Reserve Bank of India fixed the reference rate for dollar at 60.7875 and for the euro at 78.1606.
The rupee recovered against the pound to end at 99.31 from last close of 99.54 while inched up further to 78.12 per euro from 78.17. It also remained firm to settle at 55.78 per 100 Japanese yen from 55.89.
