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Our Bureau

Mumbai, Nov. 20

The rupee weakened by almost 7 paise on Monday on oil-related dollar buying by nationalised banks. The home currency opened at 45.82 and closed at 44.98 against the previous close of 44.91. "When the rupee reached the levels of 45.90, some corporates were also seen buying dollars," said a dealer at a private bank. The Reserve Bank of India was not seen in the market, he said.

The dollar weakened against euro and sterling due to the weak US housing data released on Friday. In forwards, the six-month premium closed at 1.98 per cent (2.01 per cent) and the one-year closed at 1.83 per cent (1.85 per cent).

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