Negative sentiment about the country's economic outlook and higher payments for imports pushed the rupee down further versus the dollar on the currency market on Wednesday, marketmen said.
Reuters adds: In the third Asian trade euro held above an 11-month low against dollar in Asia, with thin year-end trade set to keep the common currency subdued ahead of an Italian bond sale later in the week. Traders expect the embattled currency -- now 12 percent below its peak hit in early May -- to be mostly range-bound though there was room for it to come under pressure after Italy's 8.5 billion euro bond sale and German CPI on Thursday. The dollar was trading versus the Indian rupee at Rs 53.02 and the greenback was at 3.171 in terms of the Malaysian ringgit. The yuan closed up slightly at 6.3275 against dollar on Wednesday, buoyed by casual dollar sales possibly from some exporters late in the session, traders said.
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Open Buying Rs 89.90
Open Selling Rs 90.10
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Buying Rs.89.97
Selling Rs.90.00
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According to dealers, the dollar resumed trading at Rs 89.70 and Rs 90.00 as its buying and selling rates, respectively and closed higher at Rs 89.80 and Rs 90.10 on buying and selling counters.
The rupee also remained weak against pound. The pound was purchased and sold at Rs 140.50 and Rs 141.00 as compared to Monday's Rs 139.50 and Rs 140.50, respectively, dealers said.
The dollar opened at Rs 89.00 (buying) and Rs 89.20 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 89.00 (buying) and Rs 89.20 (selling).
Pound Sterling opened at Rs 138.00 (buying) and Rs 138.90 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 138.00 (buying) and Rs 138.90 (selling).