Rupee steady against dollar

MUMBAI: Rupee on Tuesday held steady against the US dollar during morning trade, largely influenced by the local equity market that showed signs of recovery amid weak global cues.

In lacklustre activity at the Interbank Foreign Exchange (forex) market, the local currency resumed slightly changed at 39.37/39 per dollar from yesterday's close of 39.36/37 and later was quoted at 39.38/39 a dollar in late morning deals.

The rupee remained almost unchanged in line with steady trend in the domestic stock market while Asian markets continued to be weak in morning trade today, forex dealers said.

However, the rupee is well supported by weakness in dollar abroad and dollar sales by exporters in the past few days, they added.

Source: timesofindia.indiatimes.com