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Mumbai, May 30

The rupee weakened by about 36 paise against the greenback "on sustained buying of dollars by major corporate houses," said a dealer with a private bank. The home currency closed at 40.86 down from the previous close of 40.50. The rupee eased away from the Monday's nine-year intra-day high of 40.28. The rupee opened at 40.55 but immediately fell to 40.65/70 level intra-day, "following dollar buying by oil companies to meet their month-end demands," the dealer added. In forwards, the six-month premia closed at 2.07 per cent (3.05 per cent) while the 12-month premia ended at 2.48 per cent (3 per cent).

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Rupee falls on sustained buying

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