Rupee unchanged

The rupee maintained a stable trend against the dollar in the interbank market on Friday, traders said. The rupee closed at 110.55 to the dollar as compared to Thursday’s close of 110.54.

The currency did not show any major change in its value against the greenback amid persistent dull dollar demand.

“We don’t see any visible currency moves. The rupee is expected to hold the current position in the week ahead,” a currency dealer said. “The fundamentals of the foreign exchange markets appear to remain same in the coming weeks,” he added. In the open market, the rupee continued to gain grounds. It closed at 111.30/111.60 against the dollar as compared to 111.70 and 112 during the previous session.

Traders also predict the rupee to trade at the current levels, with posting a minor fluctuation over the next week in the kerb market.