The Hindu Business Line : Rupee ends flat

The rupee was flat as there were good two-way flows. The rupee opened at 39.37/38 and closed at 39.35/36, a tad higher from the previous close of 39.37/38. For major part of the day it traded between 39.4 and 39.36. While there was some dollar selling because of the gains in the equity market, public sector banks were seen buying at all levels, said a forex dealer with a private bank. There was buying from oil companies as well. The outflows from the system on account of t he Reliance IPO matched inflows from other IPOs like Emaar, the dealer added. The dollar was weak against other overseas currencies. The rupee is likely to see flat movement next week as well, between 39.34 on the higher side and 39.45 on the lower side, the dealer said. In the forwards premia market, the six-month premium ended at 2.13 per cent (2.07 per cent) and the 12-month at 1.79 per cent (1.73 per cent).

– Our Bureau

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