Rupee gains marginally on remittances

Tuesday, 2 September 2014 10:55 - - {{hitsCtrl.values.hits}}

Reuters: The rupee ended a tad firmer against the dollar on Monday as inward remittances and sales of the greenback by exporters outpaced demand by importers, dealers said. Dealers expect the local currency to remain steady for the rest of the year after Central Bank Governor Ajith Nivard Cabraal said recently the banking regulator would intervene in the thinly-traded market whenever needed to keep the rupee stable. The rupee ended at 130.20/21 per dollar, firmer from Friday’s close of 130.22/25. “The rupee is firmer on inward remittances and some exporter dollar sales,” said a currency dealer. Foreign investors bought a net Rs. 250 million ($ 1.92 million) worth of Government securities in the week ended 27 August, official data showed.

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