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Our Bureau

Mumbai, March 2

The rupee weakened by around two-three paise against the dollar on a weak stock market. The domestic currency opened at around 44.29/30, settled for long at 44.27/44.28 and finally closed at 44.29/30, against the previous close of 44.27 on Thursday. "When the Sensex dropped by around three hundred points, the rupee slipped to an intra-day low of 44.32," said a dealer at a private bank.

"However, towards the close some foreign banks were seen selling dollars," he said. Dealers said the rupee is likely to trade in the 44.25-44.29 range. The six-month forward premia closed at 3.03 per cent (3.23 per cent) and the one-year closed at 2.94 per cent (2.98 per cent).

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