USD opens high 6 paise at 44.80/81 against USD

Mumbai, Dec 12: The Rupee today opened high by six paise and was quoted at Rs 44.79/80 against the US Dollar as compared to its previous close of Rs 44.85/86 per USD, on profit booking by foreign and nationalised banks.

Dealers said the Indian rupee edged up on Tuesday from a three-week closing low in the previous session helped by the Dollar's weakness, but gains would be muted as the stock market braces for another day of volatility.

Besides, the central bank, which wants to keep exports competitive, is expected to keep a lid over gains.

At 1000 hrs, the Rupee was quoted at 44.8075/8175 per Dollar, up from Monday's 44.8350/8450, which was its lowest close since November 21.

Dollar slipped against major currencies after former US Federal Reserve Chairman Alan Greenspan warned investors to expect a few more years of Dollar weakness.

UNI