MUMBAI, October 26: In a restricted trade, the rupee on Wednesday ended almost flat at 66.83, a marginal 1 paisa drop against the American currency, amid month-end dollar demand from importers.
The domestic currency opened slightly higher by 2 paise at 66.80 as against Tuesday’s closing level of 66.82 per dollar at the Interbank Foreign Exchange (Forex) market and moved in a range of 66.7550 and 66.8450 per dollar before ending at 66.83, showing a loss of 1 paisa. The rupee had gained seven paise or 0.10 per cent in previous two days.
The domestic unit moved in range of 66.7550 and 66.8450 per dollar during the day. The dollar index was trading down by 0.22 per cent against a basket of six currencies in the afternoon trade.The RBI on Wednesday fixed the reference rate for the dollar at 66.7621 and euro at 72.8174.
In cross-currency trades, the rupee firmed up further against the pound sterling to finish at 81.55 from 81.73 yesterday while dropped against the euro to 72.92 from 72.72. It also fell against the Japanese yen to close at 64.09 from per 100 yens from 63.95.
In overseas market, the dollar took a breather in early Asia trade on Wednesday, but was still not far from a nearly nine-month peak against a currency basket as expectations for a year-end rate hike by the Federal Reserve remained intact.
