THE RUPEE: firm trend

10 Apr, 2016

The rupee showed no major change versus the dollar in the process of trading, dealers said. The rupee was unchanged against the dollar for buying and selling at Rs 105.20 and Rs 105.40 respectively, while it dropped by 50 paisas in relation to the euro for buying and selling at Rs 119.50 and Rs 120.50 respectively, they added.
The yen surged as much as two percent against the dollar on Thursday. Japanese Finance Minister Taro Aso responded early on Friday by warning that rapid currency moves were "undesirable," and the yen's moves were "one-sided."
That is language that Tokyo has used in the past to flag intervention. The yen has rallied to 17-month highs against the dollar, but investors expect Japanese policy makers to hold fire on a rate decision at least until after next week's G20 meetings in Washington.



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Open Bid Rs 105.20
Open Offer Rs 105.40
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According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 105.30 and Rs 105.70 as its buying and selling rate, respectively. As a result of short supply, the dollar ended higher and closed at Rs 105.45 on buying counter while its selling rate stayed unchanged at Rs 105.70.
Similarly, the rupee lost its worth against the British pound for another day. The pound's buying and selling rates improved from the overnight closing of Rs 147.00 and Rs 147.80 to Rs 147.70 and Rs 148.70, respectively, the currency dealers said.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against the rupee, depicting no variations at the second session.
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).
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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