Rupee unchanged

The rupee remained stable against the dollar on Monday in a lethargic trade, currency dealers said. The rupee ended at 110.57/dollar, unchanged from the previous closing in the interbank foreign exchange market.

Dealers said the currency traded in a narrow range of 110.55/110.58 during the session because of weak dollar demand from importers. “The rupee maintained 110.55 level since the start of the last week and it is very likely to sustain this level this week, owing to slow dollar demand and dull investor sentiment,” a currency dealer said. The rupee failed to sustain the gains it made last week in the kerb market. It closed at 111.50 and 111.80 against the dollar as opposed to 111.40/111.80 in the previous session.