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Rupee steady against dollar

MUMBAI: The rupee closed barely changed at 46.35/37 a dollar in a generally quiet and range bound trading at the interbank foreign exchange market here on Thursday, partially affected by the disruption in the transport system due to heavy rain.

Opening distinctly weak at 46.44/46, the Indian currency rallied to a high of 46.29/30 before settling at 46.35/37, little changed from Wednesday's near nine-month closing low of 46.3550/3650. The rupee had depreciated by nearly 48 paise in the earlier three trading sessions, pulled down by sustained hectic month-end dollar demand amid limited dollar supplies from trade and foreign institutional investment inflows.

The forex spot trade was quiet and range bound due to lack of market-moving factors. Sentiment, however, remained bearish due to slowdown in FII inflows, a forex dealer said.

The RBI fixed the reference rate for the U.S. currency at Rs. 46.22. — PTI

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