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Our Bureau

Mumbai, May 17

The rupee weakened on Thursday by around 10 paise on dollar buying by some oil importers. The home currency opened at 40.81, touched an intra-day high of 40.77 to finally close at 40.85/87 against Wednesday's close of 40.78. "Nationalised banks were seen buying dollars due to demand from importers. The RBI was not seen in the market," said a dealer at a private bank. Dealers expect the rupee to breach the 41-level in the next 10 days.

The six-month forward premia stood at 4.52 per cent (4.19 per cent) and 12-month premia at 3.97 per cent (3.82 per cent).

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