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Mumbai, Sept. 4

The rupee weakened by eight paise against the greenback on Tuesday on dollar demand from a large corporate and also from banks. The home currency opened at 40.86/88 and saw an intra-day low of 40.99 before ending the day at 40.97/98, down from the previous close of 40.89/90. Market participants expect the rupee to appreciate to 40.75-40.80. In forwards, the six-month premia closed at 1.10 per cent (1.18 per cent) while the 12-month closed at 1.25 per cent (1.30 per cent). –

Our Bureau

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