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Mumbai, July 25

The rupee weakened by eight paise against the greenback on Wednesday due to dollar buying by some nationalised banks, said a dealer. The home currency eased from its nine-year high to close at 40.35, down from the previous close of 40.27. The rupee opened at 40.29/30 and saw an intra-day high of 40.27 before ending the day at 40.35. “A drop in Sensex drove people’s sentiments and some of the buying was related to this,” said Mr V. Rajagopal, Head-Forex Tr easury, Kotak Bank. In forwards, the six-month premia closed at 1.14 per cent (0.96 per cent) while the 12-month ended at 1.40 per cent (1.29 per cent).

— Our Bureau

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Rupee sheds 8 paise

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