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Mumbai, Nov. 20

The rupee slightly weakened against the dollar tracking the weakness in domestic and international stock markets. The home currency opened at 39.38/40 and touched an intra-day low at 39.43. It bounced back later to end at 39.36/37, against the previous close at 39.3350/3550. Dealers said that the bearish stock markets in India and across the world caused the rupee to dip during the day. However, dollar selling by foreign banks helped the rupee in paring some its losses. &# 8220;The fundamentals of the rupee remain strong. Even if there are no FII inflows, exporters are looking at selling dollars at these levels,” said a dealer at a private bank. In the forward market, the six-month closed at 1.61 per cent (1.59 per cent) and the 12-month closed at 1.28 per cent (1.26 per cent). —

Our Bureau

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