Rupee opens higher at 44.06/08 against US dollar

Mumbai, Feb 15: The rupee today resumed higher at 44.06/08 against per US dollar compared to 44.12/13 on the previous day's close on increased of dollar selling pressure by foreign banks.

Later, it fluctuated between 44.06 and 44.09 per US dollar on some short-covering and scattered dollar demand by local operators.

The Rupee edged up while other domestic market indicators witnessed big losses as the RBI gave fresh proof of the intent to fight inflation.

Capital flows were seen boosting the rupee while sell-buy swaps to raise rupee resources could have also partly contributed to the gain while sentiment was weak in stocks. SEBI data showed that FII inflows remained positive till Tuesday despite the slump in stock indices, dealers added.

UNI