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Rupee edges up

MUMBAI: The rupee on Tuesday edged up against the U.S. currency at 44.24/25 a dollar on the opening day of the New Year due to restricted activity.

The interbank foreign exchange market opened after Christmas and Id-ul-Zuha holidays on a promising note at 44.18/20 a dollar as against the previous level of 44.25/27. Thereafter, it rose further to a high of 44.1600, but later fell sharply and ended at 44.24/25, barely changed from the last close.

Meanwhile, the RBI fixed the reference rate for the U.S. currency at Rs. 44.20. — PTI

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