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Our Bureau

Mumbai, June 7

The rupee weakened by about 5 paise against the dollar on sustained buying of the greenback. A dealer with a private bank said: "There was good dollar buying towards the latter part of the day."

The home currency opened at 40.66/67 and saw an intra-day low of 40.76/77 before closing the day at 40.71 down from the previous close of 40.66/67. Market participants expect rupee to trade in the 40.50-40.70 range. In forwards, the six-month premia closed at 2.48 per cent (2.68 per cent) while the 12-month closed at 2.64 per cent (2.76 per cent).

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