The rupee managed to hold its commanding position against the dollar on the money market at the week-end, dealers said. The rupee stayed put in terms of dollar for buying and selling at Rs 98.80 and Rs 99.00 respectively. It recovered its overnight gains of Rs 1.10 versus the euro for buying and selling at Rs 134.25 and Rs 133.50 respectively, they said.
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Bid Rate Rs 98.80
Offer Rate Rs 99.00
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According to the currency dealers, the dollar commenced trading at its overnight closing of Rs 98.75 and Rs 99.00 as its buying and selling rate, respectively. Because of slight increase in the dollar's demand, its rate was improved to Rs 98.80 and Rs 99.05 on buying and selling side, respectively.
However, the rupee remained strong and appreciated its worth against the pound sterling. The pound was declined from Friday closing of Rs 168.75 and Rs 169.00 to Rs 168.50 and Rs 168.75 on buying and selling counters, respectively, the dealers said.
The dollar opened at Rs 98.50 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (selling).
Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.