Rupee unchanged

The rupee ended unchanged against the dollar on Tuesday, as importers were reluctant to buy foreign currency, owing to new duty imposition on a number of imported goods. The rupee ended at Rs124.25 against the greenback, the same previous day’s level, in interbank foreign exchange market. The currency dealers said the new measures announced by the government to help the local currency recover losses occurred during the past months. The imposition of additional Customs duty and regulatory duty on various goods would discourage the import of luxury and non-essential items. The interbank foreign exchange market initiated the day in the range of Rs124.20 and 124.25. The market recorded the day’s high of Rs124.26 and low of Rs124.25 and closed at Rs124.25. In the cash ready market, the rupee depreciated. The buying and selling of the dollar was recorded at Rs125.20/Rs125.50 as compared to yesterday’s closing of Rs124.80/Rs125.30.