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THE RUPEE: little changes

09 Jan, 2016

The rupee showed minor changes against the dollar on the money market on Friday in the process of trading, dealers said. The rupee was almost unchanged against the dollar for buying and selling at Rs 104.93 and Rs 104.95, experts said.
In the final Asian trade, the yen reversed course and sagged against the dollar while the Australian dollar rebounded after the People's Bank of China (PBOC) set a higher yuan guidance rate for the first time in nine days.
The dollar was up 0.5 percent at 118.305 yen, pulling away from a 4-1/2-month low of 117.33 struck overnight as the region's equity markets bounced after a brutal week.
The greenback was still poised to lose 1.7 percent this week, which saw risk appetite battered globally and benefit the safe-haven yen after China guided the yuan sharply lower, stoking worries about the health of the world's second-largest economy. The dollar was trading against the Indian rupee at Rs 66.66, the greenback was at 4.3780 in terms of the Malaysian ringgit and the US currency was at 6.5884 versus the Chinese yuan.



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Open Bid Rs.105.90
Open Offer Rs.106.10
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Bid Rate Rs.104.93
Offer Rate Rs.104.95
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The dollar did remain under selling pressure throughout the day and at close of trading end lower at Rs. 106.00 and Rs. 106.30 as its buying and selling against Rs. 106.40 and Rs. 106.80 of Thursday.
The rupee did appreciate against the pound sterling, whose buying and selling did decline from the overnight closing of Rs. 154.70 and Rs. 155.80 to Rs. 154.40 and Rs. 155.50.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (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).

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