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Mumbai, Nov 22

The rupee depreciated by around 15 paise, on sustained dollar buying by banks. The home currency opened at 39.44/45, slipped to a low of 39.49 and then crept up to 39.43/44. It, however, fell again to end at 39.53, against the previous close of 39.38/39. Exporters were seen selling dollars during the day, which helped the rupee recover some of its losses. But sustained dollar buying by banks like Citibank caused substantial depreciation in the rupee. “The rupee may slip further tomorrow, as month-end related dollar demand is likely to kick in. High oil prices will also put the domestic currency under pressure,” said a dealer at a private bank. In the forward market, the six-month premium closed at 1.54 per cent (1.68 per cent) and the 12-month ended at 1.22 per cent (1.25 per cent).

— Our Bureau

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