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Mumbai, June 27

The rupee weakened by almost eight paise and closed at 40.99/41 against the greenback due to weak domestic stock market. “The market fears that overseas investment in the domestic equity market may slow down as companies have completed their new share offers,” said a dealer at a private bank. The home currency opened at 40.97, touched an intra-day low of 41.06 to finally close at 40.99/41, against the previous close of 40.92/93 on Tuesday. “There was doll ar demand from oil importers, which also weakened the rupee,” said the dealer. The six-month forward premia is at 3.34 per cent (2.97 per cent) and 12-month premia is at 3.03 per cent (2.81 per cent). —

Our Bureau

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