All-round gains were seen on the money market on Wednesday as the rupee moved up against the dollar in the process of trading, the dealer said. The rupee posted fresh gains of 11-paisa versus the dollar due to easy supply of US currency for buying and selling at Rs 104.79 and Rs 104.82 respectively, they said.
Indonesia's rupiah lost one percent as foreign banks sold, while some of the country's bonds also fell. The Malaysian ringgit slid as offshore funds unloaded the unit on concerns about sliding oil and gas prices affecting government revenue. The dollar was trading against the Indian rupee at Rs 68.23, the US currency was at 4.2380 in relation to the Malaysian ringgit and the greenback was at 6.5799 in terms of the Chinese yuan.
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Open Bid Rs.106.40
Open Offer Rs.106.60
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Bid Rate Rs.104.79
Offer Rate Rs.104.82
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This slight fall did help the rupee in the open market though.
The dollar did slip to Rs 106.55 and Rs 106.80 on buying and selling against Rs 106.60 and Rs 106.85 of Tuesday.
The rupee did fail to get out of pressure against the British pound that was traded at Rs 153.50 and Rs 154.20 on buying and selling as compared with the previous closing of Rs 153.00 and Rs 154.00.
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).