Re Ends Tad Lower At 40.53/$

Mumbai: The rupee was volatile against the dollar on Aug 9, taking cues from the stock marke, which lost heavily following news that international bank BNP Paribas has been forced to suspend calculation of the net asset value of three of its mutual funds due to problems in the US subprime mortgage sector. The domestic currency opened higher at 40.45/46 and strengthened to 40.39/40, due to good dollar inflows. The rupee fell and closed at 40.52/53, unchanged from Aug 8, close of 40.52/53. The rupee may trade in the 40.50-40.60 range said the dealer. In forwards, the six-month premia closed at 1.96 per cent (1.79 per cent) and the 12-month premia closed at 1.94 per cent (1.82 per cent).