The Hindu Business Line : Rupee sheds 15 paise

The rupee fell by 15 paise against the greenback on Friday due to dollar buying by foreign banks. The currency opened at 43.70/72 and weakened to touch an intra-day low 43.96/97. It recovered marginally to close at 43.93/94, against the previous close of 43.78/79. The rupee opened stronger but weakened gradually in the first half of trade due to a strong dollar overseas and oil prices rising to $117 a barrel, said a dealer with a private bank. However, persistent dollar-buying by foreign banks pushed the rupee to its day's low, added the dealer. Forex dealers see rupee in the range of 43.80-44 next week. In the forward market, the 6-month premium closed higher at 3.36 per cent (3.14) and the 12-month ended at 2.86 per cent (2.71). - Our Bureau

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