Rupee edges down

MUMBAI, DEC. 12. The rupee moved in a narrow range and closed marginally lower at 46.7650/7700 against the U.S. currency, amid dull trading at the inter-bank foreign exchange market today.

The rupee opened nearly steady at 46.7625/7675, stayed in a tight range between 46.7625 and 46.7750 as the market witnessed moderate activity. The rupee closed at 46.7650/7700, one paise lower from the previous day's close of 46.7550/7650 a dollar.

According to forex dealers, the market remained dull and scattered dollar supply by exporters were absorbed by State Bank of India and other State-run banks. The import dollar demand was negligible in view of the comfortable foreign exchange reserves position, and steady oil prices, they added.

- UNI

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Section  : Business
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