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Our Bureau

Mumbai, March 10

The rupee declined against the dollar on Friday in line with the movement of other major currencies against the US currency.

The domestic currency opened at 44.55, down from Thursday's close at 44.48. It, however, rose to an intra-day high of 44.48 and closed at 44.50.

Dealers said the fall of the rupee was muffled by FII dollar inflows. "The dollar has been gaining against all the other major currencies based on the bullish outlook for the US economy and higher interest rates. So, once the inflows into the Indian stock market ebb the rupee could depreciate further," said a dealer at a private bank.

In the forward premia market, the 6-month closed at 2.55 per cent (2.5 per cent) and the 12-month ended at 1.98 per cent (1.97 per cent).

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Rupee sheds 2 paise vs dollar

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