THE RUPEE: slight changes

The rupee showed little changes against the dollar during the shortened week in observance of Eid-ul-Azha holidays. The rupee moved with little changes in relation to the US currency for buying and selling at Rs 124.24 and Rs 124.26.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee depreciated by 80 paisas against the dollar for buying and selling at Rs 122.50 and Rs 123.80. The rupee was available in relation to the euro for buying and selling at Rs 139.25 and Rs 143.00. Marketmen said that the rupee maintained it's almost last week levels due to balanced demand and supply position. They said that it looks that the rupee may not fluctuate sharply in terms of the dollar in the coming days.
INTER-BANK MARKET RATES: On Monday, the rupee lost 23 paisas in relation to the US currency for buying and selling at Rs 124.23 and Rs 124.27, they added. On Friday, the rupee moved with little changes in relation to the US currency for buying and selling at Rs 124.24 and Rs 124.26.
OPEN MARKET RATES: On August 20, the rupee followed the same pattern against the dollar, shedding 20 paisas for buying at Rs 121.70 and it also lost 50 paisas for selling at Rs 123.00, they said. The rupee depreciated by 50 paisas versus the euro for buying at Rs 136.00 while it did not depict any change for selling at Rs 140.50, they said.
On August 24, the rupee lost 80 paisas against the dollar for buying at Rs 122.50 and it also shed 50 paisas for selling at Rs 123.50. On August 25, the rupee was unchanged against the dollar for buying at Rs 122.50 while it shed 30 paisas for selling at Rs 123.80, they said. The rupee dropped sharply in relation to the euro for buying and selling at Rs 139.25 and Rs 143.00, they said.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar sagged on Monday as investor demand for the safe-haven currency receded on optimism over a reduction in US-China trade tensions, with the focus on discussions between the two countries due this week. The dollar index against a basket of six major currencies was little changed at 96.126 after losing 0.55 percent on Friday.
Escalating trade tensions between the United States and its trading partners, in addition to a plunge in the Turkish lira, has taken a heavy toll on emerging market currencies. These strains pushed the dollar index to 96.984 last Wednesday, its highest since June 2017. But the dollar's advance halted ahead of lower-level trade talks between Chinese and US officials in Washington scheduled for Tuesday and Wednesday. Receding fears over the Turkish lira's late plunge on Friday reduced risk aversion in the broader markets, lifting the euro.
The dollar was trading against the Indian rupee at Rs 70.150, the greenback was available at 4.098 in terms of the Malaysian ringgit and the US currency was at 6.867 versus the Chinese yuan. In the second Asian trade, the dollar traded lower against a basket of major peers on Tuesday after US President Donald Trump said he was "not thrilled" with Federal Reserve Chairman Jerome Powell for raising interest rates.
The dollar was also soft as investors pulled out of the safe-haven currency ahead of anticipated talks this week between China and the United States, which some market participants believe might lead to an easing in their escalating trade dispute. The dollar index against a basket of six other currencies fell 0.37 percent to 95.554 as of 0345 GMT after touching as low as 95.440, its lowest level since August 9.
In the third Asian trade, the dollar remained on the defensive on Wednesday, as US President Donald Trump's comments on monetary policy continued to weigh on the greenback and as the markets awaited US-China trade talks and Federal Reserve minutes for directional cues. Noticeable gainers against the dollar included the euro, which rose roughly 0.8 percent overnight, brushing a 12-day peak of $1.1601. In Asian trade, it was up 0.05 percent at $1.1577 from its New York close.
The dollar index against a basket of six major currencies was down 0.1 percent at 95.186 after losing 0.7 percent the previous day. It fell to 95.070 on Tuesday, its lowest since August 9. Trump told Reuters in an interview on Monday that he was "not thrilled" at the Fed's rate hikes, sparking the dollar's latest downturn.
In the fourth Asian trade, the US dollar broadly rose against the euro and other currencies on Thursday after minutes of the Federal Reserve's latest policy meeting suggested the US central bank is on course to further raise interest rates. While the euro has risen for six consecutive sessions, the dollar managed to make up some of its losses against the common currency after the minutes showed Fed officials discussed raising interest rates soon to counter US economic strength.
The euro was down 0.2 percent at $1.1576, coming off a two-week high of $1.1623 touched overnight. The dollar index, which weighs the greenback against a basket of six other currencies, was 0.16 percent higher at 95.296. In the final Asian trade, the dollar held onto recent gains on Friday after US and Chinese officials ended two days of trade talks without any major breakthroughs.
The talks between the two nations ended as their trade war escalated on Thursday after a new round of US tariffs kicked in on $16 billion worth of imports from China, followed immediately by reciprocal tariffs from China. As a safe haven currency, the dollar has benefited from fears of international trade turmoil in recent months. Investor focus turned to the speech by Federal Reserve Chairman Jerome Powell to be held later on Friday at an annual meeting of central bankers at Jackson Hole, Wyoming.
The dollar index, which measures the greenback's performance against six major currencies, was basically flat on Friday, trading at 95.656. It rose more than half a percent, snapping a losing streak that started last week. The dollar was trading against the Indian rupee at Rs 70.070, the greenback was at 4.107 in terms of the Malaysian ringgit and the US currency was available at 6.883 in relation to the Chinese yuan.
In the final US trade, the dollar fell on Friday after Federal Reserve Chair Jerome Powell said he sees little risk that inflation is poised to accelerate beyond the central bank's target but that steady interest rate hikes are the best way to protect the US economic recovery for now.
The dollar was also hit by moves by the People's Bank of China to stabilize the yuan, which had been under broad pressure amid trade tensions between the United States and China. The dollar index, which measures the greenback against a basket of six other major currencies, fell a quarter of a percent from its position at 10:00 am EDT when Powell's remarks were made public. It was last at 95.145, down 0.64 percent.