Rupee opens weaker at 41.07/10 per USD

Mumbai, Aug 28: The Rupee today opened weaker at Rs 41.07/10 per US Dollar, taking a down slide of nearly five Paise as compared to it's previous close of Rs 41.02/03 per Dollar.

During the early trade, the local unit traded in a wide range of 41.07/10-41.16/17 per Dollar in a volatile market. It touched a high of Rs 41.09/10 per Dollar and a low of Rs 41.16/17 per Dollar, dealers said.

Contrary to the market expectations, market witnessed lack of Dollar supply in the morning trade, resulting into spot selling for some time.

However, dealers were hopeful of easy supply of US currency which was visible from the forward market deals.

The forward premia especially the near forwards were traded at a discount.

UNI