The Hindu Business Line : Rupee slightly lower

The rupee ended slightly lower against the dollar on Thursday as against Wednesday's close, due to dollar buying by corporates towards the end of trade. But it was fairly steady for large part of the day as dollar inflows matched demand, said a forex dealer with a private bank. The rupee opened at 39.04 and closed at 40.04, about six paise lower than the previous close of 39.98. "The central bank may buy dollars if it reaches levels of 39.80-39.85," said the dealer. The RBI was also buying dollars in the market last week, in order to keep the rupee above the 40 level. The forwards came off slightly from the highs seen in the last week of March, with the six-month closing at 2.21 per cent (2.41 per cent) and the 12-month closing at 1.60 per cent (1.71 per cent). - Our Bureau

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