Rupee closes higher at 44.32/33 per US dollar

Mumbai, Mar 8 (UNI) The rupee today climbed higher by 17 paise to close at 44.32/33 per US dollar as compared to its previous close of 44.49/50 per USD, following a bull-run on the domestic stocks.

However, market participants believe that the Reserve Bank of India (RBI) might have intervened to curb the gains.

Forward premia rose in the session as importers purchased forwards at lower levels. Six-month and 12-month forward premia closed at 3.17 per cent and 3.03 per cent respectively.

Earlier in the day, the RBI had fixed the reference rate at Rs 44.44 per USD, up by six paise from its yesterday's rate of Rs 44.50 per USD.

Besides, the domestic unit displayed an encouraging higher trend against major world currencies. Against the Euro it closed high at 58.21/23 (58.35/36), while Pound finished at 85.64/66 (85.73/74) per unit each and Yen was quoted at 37.81/83 (38.15/16) per 100 units, brokers added.

UNI