Washington, October 19: Rupee nearly stable to close at 44.35/36 against the US Dollar.
In volatile trade, hefty foreign fund flows into stocks kept the rupee nearly stable to close at 44.35/36 against the US currency despite sharp fall in domestic equities.
In a two-way fluctuation at the Interbank Foreign Exchange (Forex) market, the domestic unit opened lower at 44.42/43 a dollar from yesterday's close of 44.36/37.
Later, it dropped further to the day's low of 44.55 on good dollar demand from importers as well as initial weakness in local equities.
Strong dollar overseas against its six major rivals too impacted the rupee sentiment. The dollar index was up by 0.45 per cent in London.
However, sustained capital inflows amid dollar selling by exporters and banks helped the rupee to bounce back to a high of 44.19.
---Agencies
Post new comment