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Our Bureau

Mumbai, March 15

The rupee gained marginally against the dollar on Thursday in line with the gains in the domestic stock market. The currency opened at 44.23/24 and closed at 44.20 against Wednesday's 44.2450/25. "The BSE was in the positive territory for most of the day, aiding the rupee," said a dealer at a private bank.

Market participants expect the rupee to be in the range of 44.20-44.50 in the next few days. However, the Reserve Bank of India could intervene to protect exporters, if the rupee falls below 44.20, said traders. In forwards, the 6-month closed at 3.52 per cent (3.42) and the 12-month ended at 3.20 per cent (3.14).

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