Rupee stable

The rupee closed unchanged for the third consecutive session in a row on Friday, owing to insignificant dollar demand, traders said.

The rupee ended on a flat note at 121.54 against the dollar in the interbank currency market.

“The local currency markets remained calm. The court ruling related to the former prime minister Nawaz Sharif on corruption charges did not add to the weaker sentiments in the forex market,” a dealer said.

In the open market, the rupee traded unchanged at 124/124.50 for buying and selling against the dollar.

The Accountability Court on Friday convicted and sentenced the ousted prime minister Nawaz Sharif to 10 years jail term on corruption charges in Avenfield corruption reference in his absence.