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Mumbai, June 27

The rupee crept up to 46.34/36 on Tuesday, on account of dollar selling by exporters. Domestic currency opened at 46.36/38 and ended at 46.34/36, higher than Monday's close at 46.38. Dealers said that exporters were selling dollars and were cashing in on the weakness of the rupee. However, the home currency is expected to stay weak on speculations of a possible interest rate hike in the Federal Open Market Committee meeting on June 29, they said. "The rupee's gain was marginal as there is month-end demand for dollars from several importers, including oil companies," said a dealer at a private bank. The rupee is expected to trade between 46.30 and 46.35 in the next three days, said dealers. In the forward premia market, the six-month closed at 1.14 per cent (1.15 per cent) and the 12-month at 1.25 per cent (1.25 per cent).

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