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Our Bureau

Mumbai, June 20

The rupee dipped slightly against the dollar, tracking the movement of the Japanese yen. The domestic currency opened at 45.88 and depreciated to close at 45.95, lower than Monday's 45.93.

Dealers said that statements by the governor of the Bank of Japan about a possible rate hike helped the yen to appreciate against the dollar. However, later in the day, another statement from the governor drove the yen slightly down against the greenback.

This was also reflected in the downturn of the rupee. "The rupee is likely to be range-bound in the coming days," said a dealer at a private bank. In the forward premia market, the six-month closed at 1.14 per cent (1.12) and the12-month at 1.22 per cent (1.22).

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Rupee dips slightly

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