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Rupee steady

MUMBAI: The Rupee ended barely changed against the U.S. currency in extremely quiet trading at the interbank foreign exchange market on Wednesday after suspected central bank dollar-buying intervention prevented a possible rally amid strong foreign institutional inflows and a sliding dollar overseas.

Closing at 44.9325/9400 a dollar, a little changed from Tuesday's close of 44.93/94, the rupee hit a low of 44.95/96.

A lingering weak dollar overseas and rising FII inflows gave the rupee strong underlying support but dollar demand from public sector banks. After a firm start at 44.87/89, the rupee slipped to 44.95/96, before settling at 44.9325/9400. — PTI

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