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Our Bureau

Mumbai, April 21

The rupee depreciated against the dollar on Friday on the back of oil related demand. The domestic currency opened at 45.12/1250 and touched an intra-day low of 45.15. It closed the day at 45.1450, down from 45.09/10 on Tuesday. Dealers said that oil importers were purchasing dollars as price of global crude touched $74. "While there were dollar inflows, oil-related demand kept the pressure on the rupee," said a dealer. Globally, all major currencies have been range-bound and dealers are awaiting some sort of direction to emerge before taking positions. In the forward premia market, the six-month closed at the same level of 0.99 per cent and the 12-month closed at 1.05 (1.03).

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