29 September 2004	Wednesday	13 Shaban 1425

KARACHI, Sept 28: The rupee lost six paisa in the inter-bank market on Tuesday to close at 59.20 a US dollar, down from 59.14 on Monday. Senior bankers said the central bank did not intervene in the market to lift the rupee.

They said the rupee came under pressure due to dollar buying by some banks triggered primarily by forward purchases by their customers. They said six-month forward premium inched up to 55 paisa from 50 paisa on Monday.

On Monday, the rupee had lost one paisa to a US dollar. The local currency has shed 107 paisa or 1.8 per cent of its value against the greenback so far during this fiscal year-between July 1 and September 28, chiefly due to widening trade deficit on the back of historically high oil prices.