Rupee likely to weaken

The rupee is expected to weaken in the coming week in anticipation of higher month-end dollar demand by importers, currency analysts said.

“The rupee could shed some value against the greenback as importers usually buy the US currency to meet their requirements during month end, “said an analyst.

The rupee appreciated 18 paisas due to selling of the dollars by exporters during the outgoing week. It closed at 104.92 on Monday from 104.74 against the dollar on Wednesday.

By and large, the local unit seen rangebound with less activity due to four-day long trading holiday.