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Mumbai, Dec 17

The rupee fell by 20 paise against the greenback in tandem with the fall in the domestic stock market. The benchmark BSE Sensex fell by almost 770 points on Monday on profit- booking by investors. The home currency opened at 39.36/37 and saw an intra-day high of 39.33/34 on the back of dollar selling by exporters. It, however, weakened later during the day due to the fall in the domestic stock markets and FII pullout, said foreign exchange dealers. The rupee has strengthen ed by almost 12 per cent since January this year backed by strong FII inflows. The fall in the local currency today is on concerns that the slide in local equities would prompt global funds to reduce investments in the country, said a dealer at a private bank. “The dollar has gained strength against other major currencies,” said the dealer. The rupee ended the day at 39.55, down from the previous close of 39.34/35. In forwards, the six-month premia closed at 1.98 per cent (2.02 per cent) and the 12-month closed at 1.40 per cent (1.39 per cent).

— Our Bureau

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