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Our Bureau

Mumbai, Dec. 27

The rupee strengthened by almost 15 paise on strong dollar selling by banks on Wednesday. The rupee opened at 44.40/42 and closed at 44.29/30 against Tuesday's 44.45. "The dollar was also weak against overseas currencies such as euro and yen. This impacted the rupee," said a dealer at a private bank.

This week, the rupee is likely to touch 44.10 levels, he said. In forwards, the 6-month closed at 3.80 per cent (4.67 per cent) and the 12-month ended at 3.05 per cent (3.64 per cent).

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