Rupee remains steady against dollar in early trade
Activity was at a low ebb in the absence of any dollar demand from oil companies or exporters dollar sales.
By PTI |
Mumbai: The rupee continued to rule steady and was quoted at 44.27/28 per dollar in late morning deals today in the absence of any major dollar buying or selling in the lacklustre Interbank Foreign Exchange (forex) market.
The Indian unit resumed at 44.2750/2850 a dollar, barely changed from overnight close of 44.26/27 per dollar and later showed steady trend as it was being quoted at 44.27/28 a dollar in late morning dealings.
Activity was at a low ebb in the absence of any dollar demand from oil companies or exporters dollar sales, a forex dealer said.
The rupee had been under tremendous pressure after the equity markets crashed in line with global meltdown on Tuesday but the central bank prevented any major slide in its value versus dollar, commented a banker.
FII pullout from equity markets and high global crude oil prices also had a negative impact on the rupee earlier.
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