Rupee declines marginally against US dollar

Mumbai, Feb 8 (UNI) The Indian Rupee ended marginally lower against the US Dollar and closed at 44.1300/1425 in a quiet trading at the Interbank Foreign Exchange (Forex) market today.

The Indian currency opened weak at 44.1350/1400 per US dollar from its previous finish of 44.1200/1250 and finally ended at Rs 44.1300/1425.

Forex dealers also attributed the Rupee's weakness to the easing of Japanese yen and heavy buying of dollars by oil importers.

Delares said the Central Bank seems to have entered into the market and made purchases at 44.13 level.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 44.12 per USD, down by 3 paise from the previous day's rate of Rs 44.09 per US unit.

In the forwards, the six month forward premia closed steady at 3.25 per cent as against yesterday's close of 3.20 per cent.

The annualised one-year premia ended slightly higher at three per cent from the previous close of 2.90 per cent.

The domestic unit lost moderately against Euro and Pound Sterling while it recovered gain against Japanese Yen in the cross currency trade.

The Rupee was down against Euro and closed at RS 56.86/88 from the previous close of 57.27/29 per Euro; it recovered against the Pound Sterling and closed at Rs 86.65/68 from the previous close of Rs 86.93/95.

The Rupee also ended higher against Yen and closed at Rs 36.39/40 against yesterday's finish of Rs 36.53/55.

UNI