Pramit Brahmbhatt, CEO, Alpari Financial Services (India)

said: "The rupee reversed most of its intra-day losses in the second half of session after the dollar index edged lower from its intra-day high of over 80.50 levels to 80.20 levels after the G7 nations pledged to keep fair exchange rate and not indulge in lowering of home currencies." The premium for the forward dollar ended steady to better on stray payments from banks and corporates. The benchmark six-month forward dollar premium payable in July closed at 181-1/2-183-1/2 paise from Monday's close of 181-1/2-183 paise. Far-forward contracts maturing in January finished up at 346-348 paise from 344-1/2-346 paise. The RBI fixed the reference rate for the US dollar at 53.9585 and for euro at 72.2305. The rupee rebounded against the pound sterling to 84.02 from previous close of 84.50 while improved further against the Japanese Yen to 57.14 per 100 yen from 57.72. It, however, remained weak to end at 72.45 per euro from overnight close of 72.05.