The Hindu Business Line : Rupee weakens marginally

The rupee slipped marginally against the dollar on Friday due to extensive demand for dollars from foreign banks and domestic oil companies. "The oil prices have also risen to $60.44 per barrel compared to below $59 level yesterday," said a dealer with a private bank. "The weakening of the domestic equity market also put a pressure on the rupee," he added. The home currency opened at 45.80, touched an intra-day low of 45.99 to end at 45.90. On Thursday, the rupee had closed at 45.86/87. The dollar was weak against the euro and yen on account of the data released in the US, which indicated a slowdown in the country's economy. In forwards, the six-month premium ended at 1.21 per cent (1.22 per cent) and the 12-month premium at 1.26 per cent (1.25 per cent).

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