The rupee closed flat against the dollar on Tuesday amid soft dollar demand, traders said. In the interbank market, the rupee ended at 110.58 against the dollar, unchanged from the previous close.
Traders said the rupee was steady in dull trade. “Bids and offers for the dollar remained in the ranges of 110.47 and 110.67,” a dealer said. “The rupee was quoted around the existing support level of 110.67/110.68,” he added.
“There is not much activity today, as investors were reluctant to take new positions amid lacklustre demand,” another forex dealer said. In the open market, the domestic currency posted nominal gains against the greenback. The currency pair closed higher at 111.90 and 112.20 for buying and selling. It was traded at 112/112.30 against the dollar on Monday.
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The IMF dictates its terms based on our past performance
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