Rupee steady at 7-week low amid pressure

Saturday, 30 November 2013 08:29 - - {{hitsCtrl.values.hits}}

Reuters: The rupee ended near a seven-week low on Friday despite pressure due to year-end importer demand as the currency was supported by State banks, dealers said. The spot rupee ended at 131.20/30 per dollar, hovering around its lowest since 10 October, Thomson Reuters data showed. It was weaker than Thursday’s close of 131.20/25. Three dealers said the spot rupee was not actively traded as it was not allowed to go beyond 131.20 per dollar with State banks selling dollars for selected banks at that level. The spot was kept steady at 131.10 for three weeks through Monday before it was allowed to trade at 131.15.

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