Rupee firm

May 10,2018

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The rupee ended flat on Wednesday due to the lack of interest showed by the market participants. Traders ruled out near-term volatility in the rupee, and said the local unit is likely to remain range-bound with a very little fluctuation.

In the interbank foreign exchange market, the rupee closed unchanged at 115.61 against the dollar, after moving in the range of 115.62 and 115.65.

However, it staged gains in the open market supported by slowdown in the dollar demand. “The rupee was trading at 118/118.40 and the supply for the dollars remained sufficient to meet the market demand,” a currency dealer said.

The rupee was quoted at 118.20/118.50 for buying and selling against the greenback in Tuesday’s trade.


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