Date:20/04/2007 URL: http://www.thehindubusinessline.com/2007/04/20/stories/2007042003210600.htm

Back Rupee weakens

Our Bureau

Mumbai, April 19

The rupee weakened by around six paise on Thursday on profit booking by traders. The currency opened at 42.05/07, touched an intra-day low of 42.20 and finally closed at 42.07, against the previous close of 42.01. "Demand for dollars from the importers also weakened the rupee," said a dealer at a private bank. Dealers said the Reserve Bank of India was not seen in the market. The rupee is expected to touch 42.40 in the next week. The six-month forward premia ended at 6.10 per cent (6.28 per cent) and the 12-month forward premia at 4.68 per cent (4.78 per cent).