Home / Financial Services/ Rupee closes flat after dull trade

Rupee closes flat after dull trade


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 13 September 2017 00:00


Reuters: The rupee ended steady on Tuesday as selling of the US dollar by exporters offset demand for the greenback from importers in a dull day of trade, dealers said.

The spot rupee traded between 152.83 and 152.88 during the day before ending flat at 152.80/90 per dollar.

“The market traded in a narrow range on very thin volumes,” said a currency dealer, requesting anonymity.

“There was some import demand, but it was met by exporter sales.”

The rupee has been under pressure since January after the central bank stopped defending the currency and started buying dollars to build up the country’s depleted foreign currency reserves.

The island nation had seen Rs. 27.7 billion ($ 181.28 million) of net inflows into equities up to Tuesday’s close, and Rs. 6.6 billion worth inflows into government securities as of 6 September, official data showed.


Share This Article


COMMENTS

Today's Columnists

Sustainable tourism – New profit for businesses

Tuesday, 26 September 2017

World Tourism Day has been celebrated since 1980 on 27 September, the day in which the Statutes of the World Tourism Organization (UNWTO) entered into force.


Do economic sanctions matter to Iran?

Tuesday, 26 September 2017

Economic sanctions are not a new phenomenon to Iran. It has been 38 years since the Iranian revolution (1979) took place. Since then, the United States, European Union and some other countries have been imposing


It is an uphill task for the Govt. to attain the envisaged targets

Monday, 25 September 2017

In Part 1 of the article series on the Government’s Vision 2025 published last week, it was pointed out that the present vision document was just the fourth of such visions pronounced by the Government during the last two year period.


Women for tourism

Monday, 25 September 2017

Tourism is one of the world’s largest and fastest growing industries. In many countries it acts as an engine for development through foreign exchange earnings and the creation of direct and indirect employment.


Columnists More