Rupee flat

Rupee was little changed on Wednesday against the US dollar due to insignificant dollar demand from importers, dealers said. In the interbank market, rupee ended almost firm at 110.54/dollar compared with Tuesday’s close of 110.55.

The currency pair was stable at 110.52/54 on the back of flat foreign currency demand from importers.

Dealers see the rupee to maintain its present levels this week due to the adequate dollar liquidity in the market.

“We don’t see any extra ordinary demand for the foreign exchange in coming sessions,” a currency dealer said. “However, there are enough dollar supplies to meet the importer demand.” Rupee strengthened against the dollar in the open market. The rupee/dollar parity quoted at 111.70/112 for buying and selling. It traded at 111.80 and 112.10 in the previous session. 