Rupee firm

The rupee on Wednesday continued to show a stable trend as dollar supply was sufficient to meet the demand, dealers said. The rupee closed at 104.83 against the dollar as compared to the previous day’s closing of 104.84 in the interbank forex market. Dealers said the domestic currency remained stable despite pressure on foreign exchange reserves. The forex reserves of the country fell to $21.568 billion during the week ended April 14, while those of the central bank also declined to $16.416 billion.