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Mumbai, July 18

The rupee weakened by about four paise against the greenback on Wednesday due to concerns about a loss of risk appetite among global investors prompting traders to pare their holdings. The home currency opened at 40.34/36 and saw a low of 40.45 before closing at 40.40/41, down from the previous close of 40.36/37. “There were not much of capital inflows and dollar supplies in the market today,” said a dealer with a private bank. Market participants expect the ru pee to strengthen this week. In forwards, the six-month premia closed at 1.18 per cent (1.41 per cent) while the 12-month closed at 1.57 per cent (1.65 per cent). —

Our Bureau

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