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Our Bureau

Mumbai, Dec. 13

Currency markets worldwide are hardly seeing movement as liquidity drops going towards the year-end, said dealers. In the domestic market the rupee closed marginally higher on Wednesday on global dollar weakness.

The rupee opened at 44.82 against the dollar and touched a low of 44.88 before ending at 44.78, against the previous close of 44.83.84. The high call rate, post CRR hike, has upped the cost of carrying forward dollar positions. But there was dollar demand from FIIs following the three-day fall in the equity market , said a dealer with a private bank. Support for the rupee is likely at 44.50/60 and there could be selling of dollars if it crosses 44.90, he added.

Forward premia continued to be high with the six month closing at 2.75 per cent (2.79 per cent) and the one-year closing at 2.44 per cent (2.47 per cent).

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