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Our Bureau

Mumbai, March 22

The rupee lost marginally against the dollar on Thursday with the easing of inter-bank call money rates, dealers said. The domestic currency opened at 43.57/59 and closed at 43.74/75, down from Wednesday's 43.45/46. Dealers said there had been improvement in the rupee liquidity as call rates eased to 10-15 per cent.

In the past two days, call rates have ruled at 50-60 per cent as advance tax outflows sucked out Rs 35,000 crore from the system. The weakening of the yen by 60 basis points to 117.80 also affected the rupee. "The rupee is likely to fall to 44 with the cooling of call rates. Besides, the RBI may not be comfortable with a strong rupee," said a dealer at a private bank. There was some ease in forward premia with the 6-month closing at 3.48 per cent (4.73) and the 12-month ending at 3.12 per cent (3.74).

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