The rupee managed to gain sharply against the dollar on the currency market on Friday, dealers said. The rupee rose by 60-paisa against the dollar for buying and selling at Rs 101.75 and Rs 101.80 respectively, they said.
In the final Asian trade, the safe-haven yen held firm on Friday, while the euro was on track to post its second straight month of declines as tensions between Ukraine and Russia flared again. The dollar was trading against the Indian rupee at Rs 60.50, the greenback was at 3.1560 in terms of Malaysian ringgit and the US currency was at 6.1439 versus the Chinese yuan.
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Open Bid Rs 101.60
Open Offer Rs.101.80
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Bid Rate Rs.101.75
Offer Rate Rs.101.80
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According to the currency dealers, the dollar was opened on a depressed note and remained under selling pressure. At close of trading, the dollar was ended lower at Rs 101.60 and Rs 101.85 as its buying and selling rates against Rs 102.00 and Rs 102.25 of Thursday, respectively, the dealers said.
Similarly, the national currency also remained strong and was appreciated against the British pound. The pound's buying and selling rates were declined from overnight closing of Rs 168.00 and Rs 168.25 to Rs 167.75 and Rs 168.00, respectively, they added.