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Our Bureau

Mumbai, Dec. 4

The rupee edged up slightly against the greenback on the back of dollar inflows. The domestic currency opened at 44.61/63 and touched an intra-day high of 44.58 before winding up at 44.62, up from Friday's close at 44.66. Dealers said FII inflows aided the rupee's appreciation. But dollar demand from oil companies and public sector banks trimmed the gains made by the home currency.

"The rupee is expected to steadily strengthen given the continuous inflow of FII money. But oil related demand and RBI intervention in the forex market could prevent any steep appreciation in the domestic currency," predicted a dealer at a private bank. In forwards, the six-month closed at 2.26 per cent (2.10) and the 12-month ended at 2.10 (1.99 per cent).

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