Rupee Slips Against Dollar

Mumbai: The rupee slipped by about four paise against the greenback on July 18 due to concerns about a loss of risk appetite among global investors prompting traders to pare their holdings. Rupee opened at 40.34/36 and saw a low of 40.45 before closing at 40.40/41, down from the previous close of 40.36/37. Market participants expect the ru pee to strengthen this week. In forwards, the six-month premia closed at 1.18 per cent (1.41 per cent) while the 12-month closed at 1.57 per cent (1.65 per cent).