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Our Bureau

Mumbai , Jan. 2

The rupee edged up slightly against the greenback on Tuesday on good dollar inflows. The currency opened at 44.13/14 and dropped to close the day at 44.24/25, against 44.27 on Friday. Dealers said the currency was tracking the strength of global currencies such as the euro and the pound.

However, dollar-buying by nationalised banks trimmed gains. "The central bank could have been buying dollars through nationalised banks to curb the rupee's appreciation and improve rupee supplies in the system.

Besides, month end demand for dollars from importers has also subsided," said a dealer at a private bank. In forwards, the 6-month closed at 3.15 per cent (3.60) and the 12-month ended at 2.69 per cent (2.93).

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