The Hindu Business Line : Rupee down 26 paise

The rupee depreciated by 26 paise against the dollar on Thursday even as trading volumes were thin due to the two-day nationwide strike by bank unions. The currency opened weaker at 46.04/05 and further weakened to touch an intra-day low of 46.30/31. It recovered partially to close at 46.21/22, against the previous close of 45.95/96. The rupee was pushed to its day's low as market participants bought the greenback in the spot market and sold in the non-deliverable forward market to make arbitrage profits, said a dealer with a private bank. However, dollar selling by foreign banks for booking profits helped the rupee to recover marginally, added the dealer.In the forward market, the 6-month premium closed marginally higher at 1.69 per cent (1.62) and the

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