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Wednesday, Nov 14, 2007
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 Money & Banking - Forex
Rupee down six paise


Mumbai, Nov. 13

The rupee weakened by about six paise against the greenback on Tuesday on dollar buying by some foreign banks. The home currency opened at 39.38/40 and saw an intra-day high of 39.36 before ending the day at 39.43/44, six paise down from the previous close of 39.37/38.

"The rupee weakened inspite of the gain in the domestic stock markets as there was some profit taking seen today," said a dealer with a private bank. Foreign exchange dealers said that the rupee could weaken further to the 39.50-range this week. In forwards, the six-month premia closed at 1.31 per cent (1.52 per cent) and the 12-month closed at 1.07 per cent (1.17 per cent). - Our Bureau

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