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Our Bureau

Mumbai, June 25

The rupee fell against the dollar on demand for greenback. The domestic currency opened at 40.77/79 and closed at 40.87/88, against the previous close at 40.75/76. "The sentiment was negative as traders felt that the RBI would intervene in the forex market to prevent the appreciation of the rupee.

There was dollar demand seen from nationalised banks," said a dealer at a private bank. Traders said that with inflows from DLF and ICICI Bank public offerings drying up, the rupee might depreciate to 41.20 by the end of the week. In forwards, the six-month premium closed at 2.43 per cent (2.67) and the 12-month ended at 2.55 per cent (2.67).

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