Date:12/01/2007 URL: http://www.thehindubusinessline.com/2007/01/12/stories/2007011203400600.htm

Back Rupee ends a tad lower

Our Bureau

Mumbai, Jan. 11

The rupee was range-bound against the dollar to trade between 44.55 and 44.60. The domestic currency opened lower at 44.62 and closed at 44.59/60 against the previous close of 44.55/56. There was oil-related buying by foreign banks in the second session, said a forex dealer.

In the overseas market, the yen fell against the dollar and broke the psychological barrier of Y120 and was trading at Y120.4 at close. Euro and pound were steady against the dollar. The rupee could drop to 44.7 levels in the next few days, the dealer added. The six-month forward premia closed at 3.28 per cent (3.05 per cent) and the one-year closed at 2.83 per cent (2.69 per cent).