MUMBAI: The Rupee today ended marginally lower at 44.2325/2425 per dollar, following some demand for the US currency from oil companies amid relatively low FII inflows into the equity markets.
The domestic currency was trapped in a limited range of 44.18 and 44.26 at the interbank foreign exchange (forex) market during the day. It opened higher at 44.19/20 a dollar against friday’s close of 44.2150/2250.
The Rupee had recovered by 28.50 paise in a strong two-day rally prompted by heavy exporter dollar sales and FII outflows during last week.
Ruling out any major impact of a surge in Japanese yen on the rupee sentiment, dealers said the yen strengthened in Asian trade, snapping a two-day losing streak, after a report showed Japan’s economy grew at a faster pace in the fourth quarter than the government initially estimated.
Oil companies were seen making dollar purchases at the current levels during the day. FIIs were net buyers in the past three days but their inflows remained negligible. Earlier, FIIs pulled out nearly Rs900 crore on March 5 and 6.