Rupee Declined By Around 30 Paise Against Dollar

The rupee declined by around 30 paise against the dollar, as foreign banks heavily purchased dollars in the last half hour of trade. The domestic currency opened at 42.44 and rose to 42.31/32 during the day. It however, declined to end at 42.75/76, against the previous close at 42.44/45. In the forward market, the 6 month premium closed at 1.38 per cent (1.68) and the 12 month ended at 1.31 per cent (1.33).