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Mumbai, Sept. 3

The rupee slightly weakened against the greenback on Monday on dollar demand from banks. The home currency opened at 40.90 and touched an intra-day low of 40.94. It then gained to 40.84 but ended the day at 40.89/90, against the previous close at 40.88. Dealers said that the rupee strengthened during the day but weakened at close as banks began buying dollars.

“There could have been some buying support from the RBI. Trade was dull because it was a holiday in New York and there is likely to be bunched-up supply of dollars on Tuesday,” said a dealer at a private bank.

In the forward premia market, the six-month closed at 1.18 per cent (1.10 per cent) and the 12 month ended at 1.30 per cent (1.20 per cent). —

Our Bureau

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Rupee weakens slightly

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