War Clouds Sink Re, Premiums Inch Up

The rupee depreciated by almost 10 paise as fears of an imminent air strike by the US on Afghanistan gripped the market. The rupee opened distinctly weaker at 47.87/90 compared with the previous close of 47.8650/8700 to a dollar and edged lower to close at 49.99 amidst good demand for dollars. The one-year forward premium inched up to 6.20 per cent as against the previous close of 6 per cent.