The rupee moved both ways versus dollar and showed softness against euro last week as trading was carried out for two days only due to Eid-ul-Fitr holidays.
In the open market, the rupee shed 3 paisa against dollar for buying at Rs 60.53, but gained 2 paisa for selling at Rs 60.58. However, it lost 20 paisa versus euro for buying and selling at Rs 76.78 and 76.88, respectively.
In interbank dealing, the rupee gained one paisa against dollar for buying and selling at Rs 60.62 and Rs 60.64, respectively.
OPEN MARKET RATES: On October 27, the rupee gained 5 paisa versus dollar for buying at Rs 60.50 and remained unchanged for selling at Rs 60.60. Versus the euro, the rupee lost 35 paisa for buying and selling at Rs 76.58 and Rs 76.68, respectively.
On October 28, the rupee shed 3 paisa for buying at Rs 60.53 but gained 2 paisa for selling at Rs 60.58, while it lost 20 paisa versus euro for buying and selling at Rs 76.78 and 76.88, respectively.
DOLLAR'S VALUE VERSUS MAJOR CURRENCY UNITS: In early sessions the dollar depicted mixed trend versus leading currencies, but in the middle of the week it fell, touching three-week lows against the euro after a report pointed to only modest economic growth and investors continued to fold on positions in support of the US currency.
In New York markets, the dollar dropped at the weekend after the US government reported the economy expanded at a much slower pace than expected in the third quarter, cementing the view that interest rates will not be raised any time soon.
The Commerce Department's advance, or first, reading of gross domestic product came in at a 1.6 percent pace in the third quarter, compared with the 2.6 percent rate in the second quarter, making this the weakest reading in over three years. Wall Street analysts had forecast 2.20 percent growth.
The euro rose to $1.2720 soon after the report from about $1.2690 where it was shortly prior the release, showing a 0.2 percent gain on the day and around three-week highs. The dollar fell to 118.25 yen from about 118.40 yen.
INTER-BANK RATES: On Friday, the rupee shed two paisa versus dollar for buying and selling at Rs 60.63 and Rs 60.65, respectively.
On Saturday, the rupee picked up one paisa versus dollar for buying and selling at Rs 60.62 and Rs 60.64, respectively.
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