Rupee report: Rupee-dollar parity stable
IN the local currency market, the rupee/dollar parity last week displayed almost a stable trend amid minor variations.
No new development was observed in the market where trading activity remained sluggish as leading currency players preferred to remain in sidelines.
Last week on the interbank market, the rupee/dollar parity traded almost stable amid minor variations in dull trading.
In the open market, the rupee came under slight pressure as the dollar was seen firming up during the week in review
The rupee slipped to Rs105.41 and Rs105.42 on Monday from last closing levels but then reverted back to Rs105.40 and Rs105.41 on Tuesday after recovering overnight losses due to lacklustre activity.
The parity continued to trade flat at Rs105.40 and Rs105.41 on Wednesday as investors in the forex market refrained from taking major positions.
On Thursday, a minor change was seen in the parity to trade at Rs105.41 and Rs105.42 against the rupee.
The parity ended the week in minus on Friday, pushing the dollar slightly higher at Rs105.41 and Rs105.42.
In the open market, the rupee came under slight pressure as the dollar was seen firming up during the week in review.
The rupee mostly remained in the negative zone amid range-bound trade. It drifted lower against the dollar on Monday changing hands at Rs105.70 and Rs105.90.