Re Closes At 40.88 Against Dollar

Mumbai: The rupee declined against the dollar on demand for greenback. The domestic currency opened at 40.77/79 and closed at 40.87/88, against the previous close at 40.75/76. In forwards, the six-month premium closed at 2.43 per cent (2.67) and the 12-month ended at 2.55 per cent (2.67).