The rupee opened lower and continued to weaken during the day as there was dollar buying by foreign investors and defence companies.
The rupee opened at 45.16 and closed at 45.33/34, about 35 paise lower from the previous close of 44.98. This is the second day in a row that the rupee has weakened against the dollar.
There was also demand from oil companies, said a forex dealer with a private bank. In the overseas market, the dollar was stronger against euro and other currencies, the dealer said.
In the forwards market, the six-month closed at 6.17 per cent (6.53 per cent) and the one-year at 5.39 per cent (5.70 per cent).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.