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Wednesday, Oct 17, 2007
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 Money & Banking - Forex
Rupee tad weaker; RBI active

Mumbai, Oct. 16

The rupee weakened against the greenback on Tuesday on the back of the continuous intervention in the forex market by the Reserve Bank of India. The rupee also fell tracking the weakness in domestic stock markets. The rupee closed weaker by about five paise against the dollar. It opened at 39.35/36 and saw an intra-day high of 39.3150 and a low of 39.39, before ending the day at 39.35/36.

"The RBI was holding rupee at 39.31/32 levels," said a dealer with a private bank. In forwards, the six-month premia closed at 1.62 per cent (1.95 per cent) and the 12-month closed at 1.29 per cent (1.54 per cent). - Our Bureau

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