THE RUPEE: steadier trend

10 Mar, 2012

The rupee inched up against dollar on the currency market on Friday amid persisting demand for greenback, dealers said. The rupee picked up two paisa in relation to dollar for buying and selling at 90.75 and 90.77, dealers said.
In the final Asian trade euro edged lower on profit-taking after Greece said 85.8 percent of private creditors had accepted its bond swap offer, moving closer to securing fresh funds needed to avoid a messy debt default.
The single currency dipped about 30 pips or so after the announcement to an intraday low near $1.3224 and last stood at $1.3241, down 0.3 percent from late US trade on Thursday.
The yuan ended up slightly versus dollar on Friday after the People's Bank of China allowed the yuan's mid-point to post its biggest daily climb in four months, providing more evidence that the central bank is willing to let the currency move in a wider range. Spot yuan closed at 6.3107 versus dollar, stronger than Thursday's close of 6.3165. The dollar versus the Indian rupee was at Rs 49.97 and against the Malaysian ringgit the greenback was trading at 3.0075, adds Reuters.


========================
Open Buying Rs 90.90
Open Selling Rs 91.10
========================


========================
Buying Rs 90.75
Selling Rs.90.77
========================

The rupee also stayed unchanged on buying side while it appreciated its worth on selling side against the pound sterling. The pound was purchased and sold at Rs 143.00 and Rs 143.80 as compared to overnight closing of Rs 143.00 and Rs 144.00, respectively, the dealers said.

Read Comments