Rupee At 39.96 Against US Dollar

The US dollar edged up against the rupee at Rs 39.96/97 per dollar at the close of the Interbank Foreign Exchange (Forex) market in Mumbai on April 15. The Indian rupee was virtually flat against the American dollar in morning trading on April 15 amid steady to better equity markets as well as fears of the central bank intervention. The rupee witnessed lacklustre activity at the Interbank Foreign Exchange (forex) market in early trade.High inflation rate Despite high inflation rate, the Indian unit failed to spark a surge in the light of apprehensions about a possible intervention by the central bank to keep the rupee between 39.90 and 40.00 levels. Meanwhile, the central bank fixed the reference rate for US dollar at Rs 39.96 and for the single European unit at Rs 63.22 per euro.