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Our Bureau

Mumbai, Dec. 18

The rupee was marginally weak against the US dollar as banks bought dollars on Monday. Banks that trade in gold bought dollars in large amounts as international gold prices had fallen drastically on Friday, said a dealer.

The rupee opened at 44.74 and touched a low of 44.79 before closing at 44.7350/7450 against Friday's close of 44.70. The dollar was also slightly stronger against other overseas currencies, which was also the reason why the rupee opened lower in the morning. There was also some oil-related dollar buying, the dealer said. In forwards, the six-month closed at 2.96 per cent (2.94 per cent) and the 12-month ended at 2.56 per cent (2.52 per cent).

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