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Our Bureau

Mumbai, March 7

The rupee fell slightly against the dollar in tandem with the movement of global currencies against the greenback.

The domestic currency opened at 44.34 and rose to 44.3250 during the day. However, It closed at 44.35/36, down from Monday's 44.31/32.

Dealers said comments from members of the US Fed about the economy doing well and interest rates staying on an upward course enabled the dollar to rally against major currencies. The euro and the sterling depreciated by over 100 basis points, they said.

A dealer at a private bank said the dollar inflows in the market were being mopped up by RBI, which also pushed the rupee to close lower.

In the forward premia market, the 6-month closed at 2.72 per cent (2.95 per cent) and the 12-month at 2.15 per cent (2.30 per cent).

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Rupee sheds 4 paise vs dollar

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