The rupee remained steady against the dollar on Wednesday following foreign payments in the forex market, dealers said.
In the interbank market, the rupee touched the highest-ever rate of 102.55 during trading because of the rise in the demand for the dollars by oil importers.
At the closing, the rupee moved down to close at 102.30, declined by two paisas as compared to Tuesday’s closing of 102.28 in the official market.
Market dealers said that at the commencement of the forex trading, the rupee was traded in the range of 102.14 and 102.18 after it became volatile in the intraday trading.
However, the local unit traded smoother after the dollar supply was improved.
Currency experts see a downside pressure on the exchange rate after Eid as debt repayments to the International Monetary Fund (IMF) and other lending agencies are scheduled to be made next week.
In the open market, the rupee lost 42 paisas to trade at 102.45 from 102.03 at the buying counter, while it gained 58 paisas and was available at 102.07 as compared to 102.65 for selling against the dollar.
