The premium for the forward dollar ended slightly higher

on sustained payments from banks and corporates. The benchmark six-month forward dollar premium payable in July inched up at 174-176 paise from last Friday's level of 173-1/2-175-1/2 paise. Far-forward contracts maturing in January also moved up to 339-341 paise from 337-339 paise. The RBI fixed the reference rate for the US dollar at 54.2895 and for euro at 72.4405. The rupee recovered against the pound sterling to 83.80 from last Friday's close of 83.97 and also bounced back against the Japanese Yen to close at 57.66 per 100 yen from 58.50. It, however, moved down further against the euro to end at 72.32 from last close of 72.25. The Forex and Money markets will remain closed tomorrow, February 19, on account of "Chhatrapati Shivaji Maharaj Jayanti".