Rupee unchanged

The rupee ended flat against the dollar due to better supply of the dollars, traders said. The rupee closed unchanged at 124.54 against the dollar. Traders said the rupee / dollar parity continued to show a stable trend in the interbank currency market.

The domestic currency is expected to maintain its firmness this week. However, analysts foresee a further depreciation of around five percent by the second half of 2018, amid dwindling foreign exchange reserves and hefty foreign debt repayments. In the open market, the rupee managed to post mild gains against the dollar. It traded at 123.50 for buying against the dollar as compared to the previous level of 123.80. The rupee closed at 124/dollar as compared to Tuesday’s closing of 124.30 for selling.