The rupee gave up overnight gains against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee could not maintain overnight gains in relation to the dollar, losing five-paisa for buying and selling at Rs 104.40 and Rs 104.60, respectively they said. The rupee in terms of the euro performed on the same pattern, falling 20-paisa for buying and selling at Rs 118.10 and Rs 119.10, they added.

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Open Bid       Rs 104.40
Open Offer     Rs 104.60
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The dollar commenced trading at its Friday closing of Rs 104.45 and Rs 104.70 on buying and selling side, respectively. The dollar did not observe any change in its demand and supply situation. As a result, the dollar's opening rates continued to prevail till close of trading, the dealers said.
However, the rupee staged recovery and registered gain against the pound sterling. The pound's buying and selling rate declined from the overnight closing of Rs 160.50 and Rs 161.20 to Rs 160.25 and Rs 160.95, respectively, they added.
The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).