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Our Bureau

Mumbai, June 22

The rupee weakened on Friday by around three-four paise on dollar buying by some foreign banks. The home currency opened at 40.75/77, touched an intra-day high of 40.79-80 to finally close at 40.75/76 against Thursday's close of 40.71/72. "Foreign banks were seen buying dollars in the market on corporate demand, helping the rupee to gain. The RBI was not present in the forex market," said a dealer at a private bank. Dealers said the rupee traded within the range of 40.71-40.72 during the day. The six-month forward premia stood at 2.67 per cent (2.93 per cent) and 12-month premia at 2.67 per cent (2.83 per cent).

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