Rupee stable

The rupee maintained its overnight levels against the dollar on Friday due to the lack of buying interest from importers, dealers said.

In the interbank market, the rupee settled flat at 110.54 against the dollar, unchanged from Thursday’s close.

There was insignificant demand, while sufficient liquidity was available in the market to meet importers' demand.

Dealers see the rupee to trade at the current levels next week. The country’s foreign exchange reserves fell to $20.020 billion during the week ended January 5 from $20.154 billion a week ago. The central bank’s reserves decreased $124 million to $13.982 billion due to external debt servicing and other official payments. The rupee witnessed some fluctuation against the dollar in the open market. The prices of the domestic currency were quoted at 112/112.25/dollar. It was traded at 111.90/112.30 during the previous trading session. 