Rupee Ends At 40.56 Against Dollar

Mumbai: The rupee weakened by nine paise against the greenback on Sept 17, on speculation of rupee selling because of a fall in the offshore non-deliverable forwards (NDF) market. Foreign banks were also seen purchasing dollars, which weakened the rupee further. The home currency opened at 40.45/46 but declined to 40.59, which was also the intra-day low to close at 40.55/56, down from the previous close of 40.46/47. In forwards, the six-month premia closed at 1.72 per cent (1.62 per cent) and the 12-month closed at 1.77 per cent (1.74 per cent).