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Our Bureau

Mumbai, Aug. 25

The rupee weakened against the dollar tracking the movement of other global currencies against the greenback. Dollar demand from domestic oil companies also impacted the home currency.

The rupee opened at 46.55/57, touched an intra-day low of 46.61 but recovered to close at 46.55/56. On Thursday, the rupee ended at 46.52/53. Dealers said that the dollar strengthened against the global currencies. "It was just a technical movement," the dealer said.

The rupee tracked the movement of other currencies especially yen, he said. The oil companies were also seen buying dollars, which further pushed the rupee down, he added. The market would watch the Fed Reserve Governor, Mr Ben Bernanke's statements on interest rate changes today. In the forward-premia market, the six-month premium ended at 1.31 per cent (1.31 per cent) and the 12-month premium ended at 1.29 per cent (1.30 per cent).

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