Re Crosses 40 On Dollar Shortage

Mumbai: The rupee crossed the psychological level of 40 and shed 28 paise against the dollar on the back of sustained purchasing of the greenback by oil companies. The home currency opened on a weaker note at 40.03, reached an intra-day low of 40.24 and ended the day at 40.21/22, down from the previous close of 39.93. The last time the rupee touched 40.20 was on September 20, 2007. The 3-month forward dollar closed at a discount of 1.19 per cent (-1.38 per cent) and the 6-month forward also ended at a discount of 0.25 per cent (-0.25).The 12-month ended at a premium of 0.45 per cent (0.56 per cent).