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Our Bureau

Mumbai, March 1

The rupee was flat against the dollar on Thursday as the supply of the greenback matched demand. The currency opened at 44.23/25 and touched an intra-day low of 44.29. It, however, closed the day at 44.26/27, almost the same as Wednesday's 44.27/28.

Dealers said the rupee opened strong, tracking the strength of the Japanese yen against the dollar, appreciating to 117.96 from 118.80 on Wednesday. "There were FII inflows in the market and foreign banks were seen selling dollars. However, there was some oil-related importer demand as well," said a dealer at a private bank. The gain in the domestic stock market of 221 points also helped the rupee stay firm. In forwards, the 6-month closed at 3.23 per cent (3.44) and the 12-month ended at 2.98 per cent (3.15).

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