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Rupee steady
MUMBAI,
FEB. 17.
The rupee ended barely changed against the U.S. currency today after healthy dollar supplies from export proceeds and foreign fund inflows helped it to overcome early pressures ahead of a market holiday tomorrow.
In shallow but choppy two-way trading at the interbank foreign exchange market, the rupee closed at 45.2850/2900 a dollar, little changed from Monday's finish of 45.28/29, but a smart rally from early the low of 45.30/31. It opened at 45.2850/2950.
The rupee declined by five paise yesterday, dragged down by heavy dollar demand from corporates and importers amidst a cash dollar shortage scare.
For most of the morning session, the rupee remained weak, weighed down by a spillover of overnight dollar short-covering by banks that pushed it down to the low of 45.30/31.
PTI
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