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Our Bureau

Mumbai, Feb. 19

The rupee weakened marginally by about two paise as the RBI was reported to have bought dollars in the market. The rupee opened strong at 44.06, and was held up at 44.07 for around three hours as the RBI kept intervening in the market and finally closed at 44.13/14, against Thursday's close of 44.11/12.

"The rupee traded at levels of 44.06 on strong FII inflows into domestic equity markets," said a dealer at a private bank. The rupee is expected to weaken next week on month-end demand from importers, said the dealer. Dealers said the currency is likely to trade in the range of 44.05-44.20 this week. The six-month forward premia closed at 3.36 per cent (3.71 per cent) and the one-year at 3.11 per cent (3.36 per cent).

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