THE RUPEE: modest recovery

The rupee improved with modest recovery against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee gained five-paisa versus the dollar for buying and selling at Rs 101.82 and Rs 101.83 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee gained more 15-paisa in relation to the dollar for buying and selling at Rs 103.00 and Rs 103.25 respectively, while it shed 45-paisa in relation to the euro for buying and selling at Rs 112.20 and Rs 113.20 respectively, they said.
In the fourth Asian trade, the dollar crawled off one-week lows against the yen, while the New Zealand dollar stole the Asian spotlight and rallied after the central bank there made a smaller cut to interest rates than some investors had expected. The kiwi dollar climbed to a peak of $0.6654, from $0.6570 before the central bank rate policy decision, and was last up 0.8 percent on the day at $0.6628, moving away from a six-year low of $0.6498 plumbed on July 14.

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Open Bid       Rs.103.00

Open Offer     Rs.103.25

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.

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Bid Rate       Rs.101.82

Offer Rate     Rs.101.83

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