The rupee managed to recover against the dollar and euro on the currency market on Friday in the process of trading, dealers said. The rupee posted fresh gain of seven paisa in terms of the dollar for buying at Rs 100.68 and it picked up eight paisa for selling at Rs 100.72, they said.
In the final Asian trade, the yen rose as investors squared their books ahead of Japan's upper house election this weekend, which could clear the legislative path for Prime Minister Shinzo Abe's aggressive economic reform drive.
Recent opinion polls have shown that Abe's ruling bloc remains on track to take a hefty majority in the upper house, putting an end to a "twisted parliament" in which the opposition controls the upper chamber. The dollar was trading against the Indian rupee at Rs 59.81, the greenback was at 3.1980 in terms of the Malaysian ringgit and the US currency was available at 6.139 versus the Chinese yuan.
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Open Bid Rs 100.68
Open Offer Rs 100.72
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Bid Rate Rs 102.80
Offer Rate Rs 103.00
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According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 103.00 and Rs 104.00 as its buying and selling rates, respectively. The dollar observed no change in its buying rate while its selling rate was slide down to Rs 103.60.
Similarly, the national currency was marginally improved on buying side while it stayed unchanged on selling side against the pound sterling. The pound was traded at Rs 155.70 and Rs 156.50 on buying and selling counters compared with Thursday closing of Rs 155.80 and Rs 156.50, respectively, the dealers said.
The dollar opened at Rs 102 (buying) and Rs 102.10 (selling) against the same last rate. It did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.10 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.