Dollar supplies keep rupee steady

MUMBAI, OCT. 9. The rupee rallied mildly against the U.S. currency today, backed by healthy dollar supplies, after testing early intra-day low, as concerns over global political uncertainties kept it hovering around overnight record low.

Closing at 48.12/13 a dollar, marginally higher from the lowest- ever close of 48.1250/1350 logged yesterday, the rupee initially dipped to intra-day low of 48.17/18 due to dollar short-covering by banks, as sentiment remained weak because of a new round of attacks on Afghanistan. The rupee opened at a new low of 48.14/16.

After dipping to the intra-day low of 48.17/18, the rupee later bounced back and ended on the positive terrain at 48.12/13, supported by exporter dollar sales and late unwinding of long positions by banks, dealers said.

- PTI

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