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Our Bureau

Mumbai, July 5

The rupee dipped against the greenback on the back of dollar buying by importers. The domestic currency opened at 46.04/06 but some sharp buying towards closing caused it to drop to 46.09/10. On Tuesday, the rupee had closed at 46.00. Volumes were thin, contributing to the weakness of the rupee, dealers said. "The price of global crude is hovering between $73-74 and continues to be a concern. The rupee may continue to be under pressure as there is still buying interest for dollars," said a dealer at a private bank. Dealing rooms across Mumbai operated with skeletal staff on account of the heavy rains. In the forward premia market, the 6 month closed at 1.14 per cent (1.13) and the12 month ended at one per cent (1).

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