Home / Financial Services/ Rupee ends steady in dull trade; importer dollar demand weighs

Rupee ends steady in dull trade; importer dollar demand weighs

Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 12 September 2017 00:00

Reuters: The rupee ended steady on Monday as exporter sales of the US currency outpaced early demand from imports in a dull day of trade, dealers said.

The spot rupee which trade between the 152.75-152.87 during the day ended at 152.80/90 per dollar, compared with Friday’s close of 152.80/85.

“Strangely, it was a dull day. But we have seen some importer dollar demand though the rupee ended steady with some exporter dollar sales,” said a currency dealer, requesting anonymity.

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. 27.8 billion ($ 182.00 million) of net inflows into equities up to Monday’s close, and Rs. 6.6 billion worth inflows into government securities as of 6 September, official data showed.

Share This Article


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