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April 17, 2018

Rupee unchanged

Business

April 17, 2018

The rupee ended firmer against the dollar in the interbank market on Monday.The rupee closed at 115.61 against the greenback, unchanged from the previous week’s closing rates.

Traders said the currency pair was little changed in a range-bound trade. The rupee hovered at 115.60/115.62 during the day. “There was normal demand and supply. The rupee didn’t surpass 115.62,”said a currency dealer.

The rupee posted gains in the open market supported by improvement in the supply of the US currency. The rupee closed at 116.50/116.80 against the dollar in the kerb dealings. It hovered at 116.60/116.90 for buying and selling versus the greenback in last week’s trade.

Dealers said that the recent amendment in the Protection of Economic Reforms Ordinance, 2018 about barring cash transactions in non-filer foreign currency account holders has also help slowdown in dollar demand.

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