The dollar remained firm on the local currency market on Friday in the process of trading, dealers said. The rupee unchanged against the dollar for buying at 100.05 and the national currency gained slightly by two paisa for selling at Rs 100.08, they said.
In the final Asian trade, the dollar held near a five-week high against a basket of currencies, steadying as investors looked to a string of potentially market-moving events, including the European Central Bank's policy review and US payrolls report.
Political instability in Portugal has weighed on the euro, sparking a sharp fall in euro/yen, which in turn lifted the Japanese currency across the board, though the move appears to have run its course for now. The dollar was trading against the Indian rupee at Rs 60.00, the US currency was trading at 3.1840 in terms of the Malaysian ringgit and the greenback was at 6.126 in relation to the Chinese yuan.
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Open Bid Rs 100.90
Open Offer Rs 101.10
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Bid Rate Rs 100.05
Offer Rate Rs 100.08
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According to the currency dealers, the dollar was opened on a depressed note and remained under pressure in the absence of buying support. On close of trading, the dollar was ended lower at Rs 100.90 and Rs 101.25 as its buying and selling rates against Rs 101.00 and Rs 101.30 of Thursday, respectively, the dealers said.
Similarly, the rupee gained strength and was improved against the British pound. The pound's buying and selling rates were declined from overnight closing of Rs 153.00 and Rs 154.00 to Rs 152.25 and Rs 152.70, respectively, they added.