Rupee falls against dollar

MUMBAI, JANUARY 28: The rupee ended lower by four paise against the US dollar on Friday on corporate dollar demand and short-covering by banks, dealers said.

quot;Though the supplies might improve next week at the start of the new month, the bias for the rupee will be weak on account of a rising oil import bill,quot; a private bank treasurer said.

Dealers said inflows were likely to be held back by foreign investors ahead of the budget. Forward premiums, which had risen on Thursday on the back of higher call rates were stable during the day and declined towards close on receiving interest. quot;Talk of a cut in interest rates is doing the rounds, so forwards declined,quot; a dealer at a private bank said.