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January 12, 2018

Rupee ends flat

Business

January 12, 2018

The rupee closed steady on Thursday in a lethargic trade owing to flat dollar demand from importers, currency dealers said. The rupee ended at 110.54 per dollar, unchanged from Wednesday’s close in the interbank market.

“It was a very dull day. The rupee remained range-bound and traded in the tight band of 110.53/110.55,” said a dealer.

“We expect the domestic currency to remain stable and conclude this weekend by trading at 110.50/55,” he added.

In the open market, the rupee stayed firmer due to improved dollar supplies. It traded at 111.90/112.30 for buying and selling against the dollar. The rupee hovered at 111.80/112.30 in the previous session.

“Rupee saw a little variation in the kerb market as the demand and supply of the greenback remained in balance,” said another dealer.

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