Rupee stable

The rupee closed almost firmer in a lethargic activity on Friday, currency dealers said. In the interbank market, the rupee ended at 110.53 against the dollar from Thursday’s closing of 110.54. The domestic currency traded in a tight band, amid soft dollar demand.

The rupee gained a single paisa against the greenback during the session. “The currency market remained stable, despite weak forex reserves data came because of rising foreign loan payments,” a dealer said. The rupee was nearly flat in the kerb market due to comfortable supply of the US currency.

The rupee finished at 111.90/dollar for buying. It traded at 112.20 for selling in the open market. The country’s foreign exchange reserves dropped to $19.771 billion as of January 12 from $20 billion a week ago. The foreign exchange reserves held by the central bank amounted to $13.699 billion as compared to $13.982 billion.