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
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Story first published: Tuesday, August 28, 2007, 14:35 [IST]