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Our Bureau

Mumbai, May 9

Rupee weakened by around 7 paise against the greenback to close at 40.92/93 on Wednesday against the previous close of 40.85/86. The domestic currency opened at 40.93/95, saw an intra-day high of 40.87 and an intra-day low of 41.02.

"There was some dollar buying which weakened the rupee to an intra-day low of 41.02," said a dealer with a private bank. Market participants expect the rupee to trade in the 40.75-41.15 range in the coming week. In forwards, the six-month premia closed at 5.39 per cent (5.52 per cent) and the 12-month ended at 4.55 per cent (4.73 per cent).

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