Rupee stable

The rupee maintained overnights levels against the dollar in the interbank foreign exchange market on Monday, traders said. The rupee ended flat at 115.61 against the greenback.

Traders said the domestic currency remained stable regardless of some increased dollar demand from importers. “There was no pressure on the currency, despite a month-end dollar buying from importers,” a dealer said.

“The market participants remained active ahead of the labour day holiday on Tuesday.” The fiscal year 2018/19 budget announcement from the federal finance minister also buoyed investors’ sentiment, he said. In the open market, the rupee lost grounds amid increase in foreign currency demand. It closed at 118.40 for buying and 118.70 for selling in the kerb market. It ended at 118.20 and 118.50 against the greenback in the previous trading session. 