Re Ends Lower At 40.50/$

Mumbai: The rupee weakened by about 10 paise against the dollar on July 13, due to dollar purchasing by banks and major corporate houses. It opened at 40.38/39 and quickly strengthened to 40.35 which was the intra-day high; the rupee then shed its gain due to dollar buying and saw an intra-day low of 40.7450. The home currency closed at 40.50, down from the previous close of 40.40. In forwards, the six-month premia closed at 2.09 per cent (1.87 per cent) and the 12-month closed at 2.02 per cent (1.98 per cent).