Rupee flat

The rupee closed almost firmer against the dollar in the interbank market on Tuesday, dealers said. The rupee inched down to close at 121.54/dollar as compared to the previous closing of 121.53.

Dealers said the currency is largely stable helped by insignificant dollar demand in the market. “The rupee has been stable at 121.54/56 since last week. Importers and exporters have to buy and sell the US currency in this range,” said a currency dealer.

In the open market, the rupee traded a little higher at 123.80 for buying against the dollar, compared with Monday’s 124. However, it ended flat at 124.30 for selling to the greenback.