Rupees opens higher at 44.17/18 against US dollar

Mumbai, Feb 14: The rupee today resumed higher at 44.17/18 against US Dollar compared to 44.20/21 on the previous day's close on fresh selling of dollar by bankers following a reports that RBI has increased the Cash Reserve Ratio (CRR) by 0.5 basic points.

The Indian rupee rose slightly on Wednesday after the Central Bank had tightened monetary policy by raising the CRR.

Later the partially convertible rupee was up at 44.15 per dollar, stronger than its previous close of 44.20/21.

After market hours on Tuesday, the Central Bank announced a two-stage, 50 basis point increase in the CRR, or the percentage of bank's total deposits they have to keep with it, dealers said.

UNI