Rupee opens nearly flat at 44.23/24 per US dollar

Saturday, March 17, 2007, 11:19 [IST]

Mumbai, Mar 13 (UNI) The Rupee today opened nearly steady at 44.23/24 against the dollar from the same level of its last close on moderate dollar demand from local dealers.

The Indian currency traded in a narrow range against the dollar as investors were circumspect following recent volatility in investment flows, while watching for signs of any Central Bank intervention.

Later, the partially convertible Rupee was at 44.25/27 per dollar, little changed from yesterday's close of 44.23/24 on some good buying support of dollar from exporters.

The capital flows looked good, which will support the Rupee, but market expected the RBI to intervene at around 44.20 levels, to weaken the Indian unit, dealers added.

UNI

Topics: MARKETS-FOREX-OPENING

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