Rupee closes high against Dollar at 44.19/20

Mumbai, Jan 17 (UNI) The Rupee closed high today at 44.19/20 against the US dollar as compared to the previous day's close of 44.26/27, dealers said.

Rupee inched up by 0.18 per cent and closed at 44.19/USD. Dollar buying from oil firms drifted the Rupee down to the levels of 44.29/USD.

Later, the Indian currency regained ground on the back of decent capital inflows and dollar selling by exporters. With the Rupee appreciating a decent pace, markets expect the RBI to intervene in the next few days.

Volatile premia remained choppy and ended 2-3 paise higher from its last close. Six-month and Twelve month premia closed at 3.75 per cent (3.64 per cent) and 3.16 per cent (3.10 per cent) respectively.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 44.27 per US dollar, up by five paise from it's yesterday's rate of Rs 44.32 per US dollar, an RBI spokesperson said here.

However, the performance of the domestic unit against other currencies was mixed. The Rupee was down against the Euro at Rs 57.06/08 (57.43/45) per unit, it was Rs 86.85/87 (87.09/11) per unit against Pound Sterling, and at Rs 36.66/68 (36.79/81) per 100 units against the Japanese Yen, dealers said.

UNI