Rupee opens weaker at 40.35/37 per dollar

Mumbai, July 23: Rupee opened weaker at 40.35/37 per dollar against the Friday's close of 40.32 per dollar.

However, a weak dollar and constant inflows extended support to the local unit to rise to an intra-day high 40.32, which is the current (1230 hrs) trading rate of the unit.

According to dealers, intervention from reserve bank was vivid in the market during the early day trade, which is supposed to have blocked rupee from its return to the nine year peak of 40.28 attained in May.

Rupee may end up at 40.40 levels if Reserve bank continues with its intervention in the market, dealers added.

UNI