The rupee shed its gains on the inter-bank market against the dollar but on the other hand it managed to gain modestly on the open market on the money market on Monday, dealers said. Currency viewers said the rupee was moving cautiously against the dollar, they said.
In the first Asian trade, the yen lost some ground against the dollar and euro but remained near the tops of its recent ranges on Monday as Western countries warned of sanctions on Russia after Crimea voted to separate from Ukraine. Over 90 percent of Crimean voters chose in a referendum to join Russia on Sunday, an outcome that was denounced by leaders in Western powers and Kiev as a sham.
The dollar was trading against the Indian rupee at Rs 61.19, the greenback was at 3.2770 in terms of the Malaysian ringgit and the US currency was at 6.178 versus the Chinese yuan.
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Open Bid Rs 100.00
Open Offer Rs 100.20
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Bid Rate Rs 99.00
Offer Rate Rs 99.10
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According to the currency dealers, the dollar resumed trading on a depressed note and could not sustain due to lacking buyers' interest. The dollar did not observe any change in its buying rate that stayed unchanged at last week closing of Rs 100.50. However, its selling rate was slide down from Rs 102.00 of last Saturday to Rs 101.50, the dealers said.
Similarly, the rupee staged recovery and appreciated its wroth against the pound sterling. The pound's buying and selling rates were decreased from previous closing of Rs 168.50 and Rs 170.00 to Rs 167.00 and Rs 168.50, respectively. There was variation in the selling rates at different currency exchanges, as some money changers quoted Rs 170.00 for a pound.
The dollar opened at Rs 100 for buying and Rs 100.10 for selling against same last rate. It did not observe further change in the second session and closed at Rs 100 for buying and Rs 100.10 for selling.
Pound Sterling opened at Rs 165 for buying and Rs 165.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.