The rupee declined by 25 paise against the greenback on Sept 2, due to huge demand for dollar from foreign banks and oil companies. The rupee''s movement was in the range of 40 paise showing high volatility, said. The currency opened at 44.20/21 and weakened to reach an intra-day low 44.57/58. It then staged a recovery to reach an intra day high of 44.15/16 before depreciating to close at 44.43/44, against the previous close of 44.18/19. In the forward market, the 6-month premium closed lower at 2.27 per cent (2.84) and the 12-month ended at 2.27 per cent (2.58).
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