An easier trend persisted on the money market on Friday as the rupee drifter lower marginally against the dollar in the process of trading, dealers said. The rupee shed one-paisa against the dollar for buying at Rs 105.50 and it also fell by two-paisa for selling at Rs 105.52 respectively, they said.
While, the rupee did not move any side versus the euro for buying and selling at Rs 114.80 and Rs 115.80 respectively, they added. In the final Asian session, the dollar held firm with investors on tenterhooks to see whether upcoming US job data will be strong enough to cement rising expectations of a Federal Reserve interest rate hike next month. The dollar index on Thursday rose to a three-month high of 98.135, edging near its August peak of 98.334. It last stood at 97.963. The dollar was trading against the Indian rupee at Rs 65.78, the greenback was at 4.2990 in terms of the Malaysian ringgit and the US currency was at 6.350 in relation to the Chinese yuan.
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Open Bid Rs.105.65
Open Offer Rs.105.85
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Bid Rate Rs.105.50
Offer Rate Rs.105.52
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According to the currency dealers, the dollar commenced trading on a healthy note and kept on rising following fresh buying. At close of trading, the dollar ended further higher at Rs 105.75 and Rs 106.10 as its buying and selling rate against Rs 105.50 and Rs 105.85 of Thursday, respectively.
On the contrary, the rupee stayed recovery and registered gain against the pound sterling. The pound's buying and selling rate declined from the overnight closing of Rs 162.00 and Rs 162.70 to Rs 161.00 and Rs 161.50, respectively, the dealers added.