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Our Bureau

Mumbai, April 4

The rupee depreciated against the dollar on Tuesday due to the central bank's intervention in the forex market. The domestic currency opened at 44.56/58 and moved down to finally close at 44.69/70. On Monday, it had closed at 44.59/60. Dealers said the dollar buying was largely through inter-bank activity rather than genuine demand for the greenback. "There have been dollar inflows in the market. But the RBI has been purchasing dollars to improve liquidity in the system,'' said a dealer at a private bank. In the forward premia market, the 6-month closed at 1.63 per cent (2.01 per cent) and the 12-month ended at 1.56 per cent (1.81 per cent). The easing of liquidity has caused a fall in premia, said dealers.

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