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Rupee steady

MUMBAI OCT. 29. The rupee ended quietly steady against the U.S. currency today in an extremely thin and listless trading at the interbank foreign exchange market in the absence of a clear direction. Opening around 45.30/32 a dollar, the rupee was wedged in a tight band of 45.29 and 45.32, before closing at 45.3100/3150, little changed from Tuesday's finish of 45.31/32.

The forex spot trading remained quiet and range-bound due to lack of market-moving factors. Light dollar demand was evenly matched by available supplies.

The anticipated month-end dollar demand did not emerge today, but the market should brace up for residual purchases tomorrow, dealers said. The rupee rallied smartly yesterday, gaining by over 7-1/2 paise on the back of strong foreign fund inflows.

PTI

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