Rupee Closes At 40.38 Against Dollar

Mumbai: The rupee declined 36 paise against the greenback on March 3, tracking the weakness in the domestic stock market and dollar demand from nationalised and foreign banks. The home currency opened at 40.15/17 and closed at 40.38, lower than the previous close of 40.02. In forwards, the six-month forward dollar is at a discount of 0.42 per cent (0.22 per cent) and the 12-month premia ended at 0.11 per cent (0.48 per cent).