Rupee ends steady in low trade

Wednesday, 3 September 2014 00:36 - - {{hitsCtrl.values.hits}}

Reuters: The rupee ended little changed against the dollar on Tuesday as inward remittances and sales of the greenback by exporters offset demand from importers, dealers said. They 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 closed unchanged at 130.20/21 per dollar. “The rupee ended steady in quiet trade as there was not much of imports and there were normal inward remittances and exporter dollar sales,” said a currency dealer. Foreign investors bought a net Rs. 250 million ($1.9 million) worth of Government securities in the week ended 27 August, official data showed. Box NSB closing in on $ 250 m bond Savings giant NSB is offering five-year US dollar 144A/Reg S bonds at an initial guidance to yield of around 5.5%. The issue size is capped at $ 250 million. Forex dealers said they are awaiting the results of NSB’s dollar bond sale.

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