Saturday, 12 October 2013 00:00
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Reuters: The rupee ended near a three-month high on Friday on dollar sales by exporters and banks, and dealers expect the currency to be stable and trade in a narrow range in the short term.
Dealers see the rupee moving with little volatility after the Central Bank Governor last week said the currency would “behave in a stable manner” in the next few months.
The spot rupee ended at 131.07/11 per dollar, its highest closing since 15 July, and firmer from Thursday’s close of 131.10/15.
The rupee hit a record low of 135.20 on 28 August, but has managed to stem further losses since then.
Globally, the dollar, which tracks the greenback’s performance against a basket of major currencies, traded near a two-week high.
