THE RUPEE: gains modestly

24 Aug, 2014

The rupee managed to gain slightly against the dollar on the currency market at the week-end, dealers said. The rupee picked up 10-paisa versus the dollar for buying and selling at Rs 101.20 and at Rs 101.40 respectively, they said. At the same time, the rupee followed the same pattern, gaining 50-paisa in relation to the euro for buying and selling at Rs 133.50 and Rs 133.75 respectively, they said.


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Open Bid Rs 101.20
Open Offer Rs 101.40
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According to the currency dealers, the dollar commenced trading at its day earlier closing of Rs 101.00 and Rs 101.25 as its buying and selling rates, respectively. Following buyers' interest, the dollar was closed further higher at Rs 101.25 and Rs 101.50 on buying and selling counter, respectively, the dealers said.
However, the rupee maintained downward trend for another day and remained under pressure against the pound sterling. The pound's buying and selling rates were improved from overnight closing of Rs 166.25 and Rs 166.50 to Rs 167.00 and Rs 167.25, respectively, they added.
The dollar opened at Rs 101 (buying) and Rs 101.10 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling).
Pound Sterling opened at Rs 166 (buying) and Rs 166.50 (selling) against same last rate. British currency did not observe any further fluctuation by the end of the day and closed on the same rates.

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