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Our Bureau

Mumbai, Nov. 30

The rupee weakened against the dollar on Thursday on month-end demand from importers. "Oil companies were also seen buying dollars," said a dealer at a private bank.

The Reserve Bank of India seems to have intervened through public sector banks in the market to buy dollars, pushing the home currency down to 44.74/75. The rupee opened at around 44.75 and closed at around the same level of 44.73/74 against the previous close of 44.69/70. Dollar weakened overseas against the sterling and euro. In forwards, the six-month premium closed at 2.18 per cent (2.28 per cent) and the one-year closed at 2.03 per cent (2.03 per cent).

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