The open market was cheerful at the first day of the new fiscal year as the rupee picked up 10 paisa versus the dollar for buying and selling at 60.60 and 60.65, respectively. According to some moneychangers the rupee is likely to move up slightly in terms of the greenback on improved supply of the US currency.
The rupee also gained 48 paisa versus the euro for buying and selling at Rs 76.18 and Rs 76.28, respectively. The interbank rates did not show any fluctuation due to bank closing. The interbank market will re-open on Monday. In the international markets, the dollar fell sharply versus the leading currencies following a hint about a pause in the Federal Reserve series of rate hikes, dealers said.
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Kerb Buying Rs 60.60
Kerb Selling Rs 60.65
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According to the currency dealers, the dollar resumed trading at overnight closing rates of Rs 60.70 and Rs 60.80 as its buying and selling sides, respectively. The local kerb remained partially opened as some moneychangers closed their business on account of Bank Holiday. At the end of trading, the dollar moved down to Rs 60.65 and Rs 60.75 on buying and selling sides, respectively, the dealers added.
However, the local currency remained under pressure and lost its worth against the pound sterling. The British pound was purchased at Rs 111.50 and was sold at Rs 111.80 as compared to Rs 111.20 and Rs 111.50 of Friday, the dealers added.
The dollar opened at Rs 60.70 (buying) and Rs 60.80 (selling) against same overnight value. It did not observe any further change in the evening session and closed at Rs 60.70 (buying) and Rs 60.80 (selling).
Pound sterling opened at Rs 110.70 (buying) and Rs 111 (selling) in the morning session. It did not witness any further change in the evening session and closed at Rs 110.70 (buying) and Rs 111 (selling) in the evening session.