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Money & Banking - Forex
Rupee weakens on dollar buying

Mumbai, Jan. 2

The rupee weakened marginally by two paise against the greenback on the back of dollar buying by some importers, said foreign exchange dealers. The home currency opened at 39.40 and after remaining rangebound, closed the day at 39.43/44, down from the previous close of 39.41/42. Dealers expect the rupee to strengthen this week in anticipation of good inflows into the market. In forwards, the six-month premia closed at 1.50 per cent (1.61 per cent) and the 12-month closed at 1.14 per cent (1.25 per cent). - Our Bureau

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