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Mumbai, July 27

The rupee depreciated against the dollar tracking the weakness of other major currencies (against the dollar) and the domestic stock market. The domestic currency opened at 40.50 and was range bound between 40.45 and 40.52. It finally closed the day at 40.50/51, against the previous close at 40.35. Dealers said the rupee opened weak, as globally, the dollar had strengthened against all the major currencies. “The rupee’s weakness was compounded by the fall in th e stock markets. Besides, traders usually end up booking profits on Friday,” said a dealer at a private bank. In forwards, the six-month premium closed at 1.27 per cent (0.96) and the 12-month ended at 1.43 per cent (1.3). —

Our Bureau

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