Rupee stable

The rupee closed steady against the dollar in the interbank market on Thursday, traders said. The rupee closed unchanged at 124.19 against the dollar.

The currency was largely stable. It traded in the range of 124.22/25 due to routine dollar demand from importers.

In the open market, the rupee gained 20 paisas to close at 124.30 against the dollar, compared with 124.50 in the previous session.

The country’s foreign exchange reserves fell 0.22 percent to $16.685 billion as of August 24, according to data issued by the central bank. The reserves came in at $16.722 billion in previous week.