The rupee dips by 11 paise against the dollar mainly due to losses in the stock market. The domestic currency opened weaker at 42.21/22 due to the decline in global indices. It reached an intra-day low of 42.35 and closed at 42.25/26, against the previous close of 42.14/15. The rupee is hoped to appreciate further in the next week and would be in a range of 41.80-42.30. In the forward market, the 6-month premium closed higher at 4.75 per cent (4.63) and the 12-month ended at 3.92 per cent (3.90).
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