Rupee closes low against per US dollar at 44.28/29

Mumbai, Jan 24 (UNI) The Rupee closed lower today at 44.28/29 against the US dollar as compared to the previous day's close of 44.24/25, dealers said.

Rupee declined by 0.11 per cent and closed at 44.29/ per US Dollar. Dollar buying from oil companies and suspected central bank intervention to protect the export competitiveness of the country, pushed the rupee down against the dollar. Rupee is expected to remain choppy in days to come.

Forward premia rose in the trade and ended 1-2 paise higher.

Six-month and Twelve-month premia closed at 3.79 (3.68) per cent and 3.20 (3.16) per cent respectively.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 44.23 per US dollar, down by two paise from its yesterday's rate of Rs 44.21 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 57.60/62 (57.56/58) per unit, it was Rs 87.40/42 (87.78/80) per unit against Pound Sterling, and at Rs 36.46/48 (36.42/44) per 100 units against the Japanese Yen, dealers said.

UNI