Friday Dec 13, 2024
Friday Dec 13, 2024
Wednesday, 20 December 2017 00:00 - - {{hitsCtrl.values.hits}}
Reuters: The rupee closed firmer on Tuesday, as exporter dollar sales offset demand for the US currency by importers, dealers said.
The spot rupee ended at 153.05/15 per dollar, compared with Monday’s close of 153.10/15.
“It was very thin trade. Rupee ended firmer, it’s mainly because import demand is getting thinner day by day.
Today, there were some exporter conversions too,” said a currency dealer.
The rupee has lost 2.3% so far this year, but currency dealers say dollar demand has slightly waned, lending support to the rupee.
The market has been waiting for more clarity over a foreign exchange management act introduced by the Government last month.
Foreign investors have net bought equities worth Rs. 18.42 billion ($ 120.35 million) this year as of Tuesday’s close. They bought government securities worth a net Rs. 62.4 billion as of 13 December, official data showed.
