Rupee opens low at 44.24/25 Vs USD

Mumbai, Feb 22 (UNI) Rupee opened low at 44.24/25 against US dollar compared to 44.18/19 on the previous day's close, due to weaker Asian currencies and refiners buying of dollars for oil payments.

Traders said sentiment was also weighed down by prospect of another bout of suspected Central Bank intervention, with investors wary of building short positions in the dollar.

Later, the partially convertible rupee was at 44.28/29, weaker than Wednesday's close of 44.18/19 on moderate purchased of dollar by foreing banks.

India's foreign exchange reserves rose by about USD 5 billion on February 9 from a week earlier, which analysts said largely reflected Central Bank intervention.

Most Asian currencies eased on Thursday, weighed down by the Yen's weakness after Japan's Central Bank signalled that further monetary tightening would be slow, brokers added.

UNI