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Our Bureau

Mumbai, Jan. 18

The rupee fell against the dollar on Thursday, tracking the losses made by the yen. The currency opened at 44.17/19 and touched an intra-day low of 44.36. It closed the day at 44.31, against Wednesday's close at 44.19/20. Dealers said the rupee opened higher, trailing the strength of the euro and the pound. According to currency traders, the central bank may have intervened by buying dollars through public sector banks, causing the rupee to slide.

The dip of the yen following Bank of Japan's decision to keep interest rates unchanged pushed the rupee to depreciate further. The rupee is expected to be in the range of 44.15-44.45 in the next few days, he said. In the forwards market, the 6-month premium closed at 3.51 per cent (3.75 per cent) and the 12-month at 2.97 per cent (3.16 per cent).

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