The Hindu Business Line : Rupee tad weaker

The rupee depreciated by 6 paise against the dollar on Friday, tracking the downward movement in the domestic indices. The currency opened at 48.70/72 and weakened to touch an intra-day low of 48.95/96. It closed at 48.88/89, against the previous close of 48.82.

Though the domestic currency traded in the range of 48.77/78 for the first half of trade, it fell to its intra-day low after the Sensex shed 600 points, said a dealer with a private bank.

Dollar selling by the RBI at these levels helped the rupee recover marginally, added the dealer. The rupee is expected to trade around the 49-level next week The RBI will intervene to ensure that the domestic currency does not depreciate further from these levels, said dealers. In the forward market, the 6-month premium closed higher at 0.74 per cent (0.49) and the 12-month ended at 0.61 per cent (0.46). - Our Bureau

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