Rupee opens low at 44.24/26 against the USD

Mumbai, Jan 3: The rupee today opened low at 44.24/26 against the US dollar compared to it's previous day's close of 44.22/24, on account of fresh buying of the dollar by the corporate sector, dealers said.

The Indian rupee was caught between exporters who resorted to selling the dollar and investors who were buying back the dollars, after being forced to sell them last week in order to generate funds during a cash squeeze in the banking system.

In the morning session, the partially convertible rupee was at 44.24/26 per dollar, unchanged from it's previous close. The rupee moved in a range of 44.22 and 44.28, dealers added.

UNI