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Mumbai, Feb. 2

The rupee was weak due to weak sentiments in the stock market, but dollar selling by exporters helped stem the rupee’s fall. The currency opened at 49.02 and closed at 48.92, slightly lower from Friday’s close of 48.87. According to a forex dealer with a public sector bank, there were good offers from exporters and an IT company sold dollars, he said. In the overseas market, the dollar gained against other global currencies like the euro and the pound. “R isk aversion among investors is on the rise. That is why the pound lost against all currencies,” the dealer said. In the forward premia market there was some paying of interest, with the six-month premium closing at 2.46 and the 12-month at 1.99 per cent.

— Our Bureau

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