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Our Bureau

Mumbai, Jan. 5

The rupee fell by around two-three paise as there was strong dollar selling. "Selling was triggered by dollar's weakness against the Japanese yen and Chinese yuan. Chinese Central Bank has hiked the cash-reserve ratio, which strengthened yuan against the dollar," said a dealer at a private bank.

The domestic currency opened at 44.29/31, touched an intra-day high of 44.34/35 to finally close at 44.30/31 against Thursday's 44.27/28. "The rupee is expected to touch the levels of 44.16/17 next week," the dealer added. In forwards, the 6-month closed at 3.56 per cent (3.71 per cent) and the 12-month ended at 3 per cent (3.03 per cent).

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