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The rupee on Monday broke its two-day losing string and recovered by 19 paise to settle at 49.82/83 against the US currency following smart rebound in local stocks and fresh dollar selling by exporters.
However, firm dollar overseas amid capital outflows restricted the rupee rise, dealers said. The dollar index was up by over 0.1 per cent against a basket of currencies. FIIs pulled out $88.2 million in the last week, as per SEBI data.
The rupee premium for the forward dollar closed steady to better on stray paying pressure from banks and corporates.
The benchmark six-month forward dollar premium payable in March settled stable at its last weekend's level of 91-1/2- 93-1/2 paise while far-forward contracts maturing in September strengthened further higher to end at 143-1/2-145-1/2 paise from 138-1/2-140-1/2 paise previously.
The RBI fixed the reference rate for the US dollar at Rs 49.8745 and for the euro at Rs 69.5253. The rupee recouped against the pound sterling to finish at Rs 79.38/40 from last weekend's close of Rs 79.51/53. It also turned positive to end at Rs 68.96/98 per euro from Rs 69.02/04 previously
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