Persisting demand for dollars, forced the rupee to close at the level of 91 in the interband market on Friday, experts said. The rupee could not hold over its domination against dollar, giving up nine paisa for buying at 90.93 and losing 10 paisa for selling at 90.97, they said.
According to the Reuters, In the final Asian trade, euro hit a four-month low, extending declines prompted by fears Greece may leave the euro zone and on contagion jitters after Moodys downgraded 16 Spanish banks. Worries that a possible Greek exit from the euro zone would put pressure on other ailing European economies weighed on the currency, which last fetched $1.2674, down 0.2 percent on the day. It has shed 4.1 percent in May, zeroing in on its 2012 low of 1.2624. The dollar was trading versus the Indian rupee at Rs 54.77, the greenback was in terms of the Malaysian ringgit at 3.1315 and the US currency was at 6.3262 in relation to the Chinese yuan.
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Open Buying Rs 90.93
Open Selling Rs 90.97
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Buying Rs 91.95
Selling Rs 92.15
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According to the currency dealers, there was no change in the dollar's demand and supply situation that helped rupee stability. The dollar was traded at its last day closing of Rs 91.9 and Rs 92.1 as its buying and selling rates, respectively.
However, rupee staged recovery and was improved against the pound sterling. In the absence of buying support, the pound's buying and selling rates were slide down from Thursday closing of Rs 146.5 and Rs 147 to Rs 146 and Rs 146.5, the dealers said.
The dollar opened at Rs 91.1 (buying) and Rs 91.2 (selling) against last rate of Rs 91 (buying) and Rs 91.1 (selling). It did not observe any further change in the second session and closed at Rs 91.1 (buying) and Rs 91.2 (selling).
Pound Sterling opened at Rs 146 (buying) and Rs 147 (selling) against the same previous rate. British currency did not observe further change in the last trading hours and closed at Rs 146 (buying) and Rs 147 (selling).