Rupee edges down

MUMBAI, MARCH 9. Moderate dollar demand from State-run banks weakened the rupee slightly today in an otherwise quiet and range-bound trading at the inter-bank foreign exchange market.

Opening around 46.52/53 a dollar, the rupee moved down to the intra-day low of 46.53/54, before closing at 46.5300/5350, marginally down from Thursday's finish of 46.5200/5250.

Small-lot dollar purchases by State-owned banks exerted mild pressure on the rupee, but the forex spot trading was listless and confined to a narrow band due to lack of market-moving factors, dealers said.

The limited demand was met by the dollar supplies, primarily from foreign banks, they added.

``The spot rupee was ranged between 46.52 and 46.54 in muted business with most operators reluctant to take fresh positions ahead of the weekend," a dealer said.

- PTI

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