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THE RUPEE: rates firm

28 Apr, 2013

The rupee retained overnight levels against the dollar on the open market on Saturday in the process of trading, dealers said. The rupee did not move any side in relation to the dollar for buying and selling at Rs 99.70 and Rs 99.90, they said. While, the rupee slid 30 paisa versus the euro for buying and selling at Rs 129.80 and Rs 130.05, they said.
At the week-end, the dollar slid to its lowest against the yen in more than a week after the Bank of Japan left policy unchanged and after data showed the US economy expanded in the first quarter more slowly than economists had expected. The dollar was on pace to notch its largest daily percentage loss against the yen since April 15 as a confluence of factors, both technical and fundamental came into play.



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Open Bid        Rs 99.70
Open Offer      Rs 99.90
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According to the currencies dealers, the dollar witnessed fresh demand that helped its appreciation against the national currency. The dollar was ended at Rs 100.15 and Rs 100.40 on buying and selling side against Rs 99.80 and Rs 100.20 of Friday, respectively, the dealers said.
Similarly, the rupee remained under pressure and was declined against the British pound. The pound's buying and selling rates were improved from the day earlier closing of Rs 153.00 and Rs 153.50 to Rs 153.70 and Rs 154.20, respectively, they added.

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