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Our Bureau

Mumbai, March 16

The rupee strengthened on Friday against the dollar with the currency opening at 44.20, which was also the intra-day low, and closing at 44.11/12 against yesterday's close at 44.20.

The dealer at a private bank said, "tight call money, absence of the RBI, an across-the-board firming up of all major currencies against the dollar were the reasons for the strengthening of rupee. The RBI may come in but at a lower level." In forwards, the six-month closed at 3.58 per cent (3.52) and the 12-month at 3.21 per cent (3.20).

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