The rupee managed to move with little gains against the dollar on the money market on Friday in the process of trading, dealers said. The rupee picked up two paisas in relation to the dollar for buying and selling at Rs 104.70 and Rs 104.71 respectively.
In the final Asian trade, the dollar rose on Friday, staying on track for weekly gains as investors awaited the outcome of a Group of 20 meeting in Washington whose agenda is likely to feature currency policies. The perceived safe-haven yen dipped as risk sentiment improved after a spate of Chinese economic data pointed to signs the slowdown in the world's second largest economy may be bottoming out.
Official comments on the yen's recent appreciation also quelled buying interest. The euro edged down about 0.1 percent to $1.1261 from a six-month high of $1.1465 touched on Tuesday, set to shed about 1.3 percent for the week. Against the yen, the euro added about 0.2 percent to 123.47, up 0.2 percent for the week. The dollar was trading against the Indian rupee at Rs 66.64, the US currency was at 3.9010 in terms of the Malaysian ringgit and the greenback was at 6.4861 versus the Chinese yuan.
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Open Bid Rs.105.25
Open Offer Rs.105.45
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Bid Rate Rs.104.70
Offer Rate Rs.104.71
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According to the currency dealers, the dollar commenced trading on a negative sign and marginally declined from the overnight closing of Rs 105.60 and Rs 105.80 to Rs 105.55 and Rs 105.75 on buying and selling side, respectively.
However, the local currency remained under pressure and further lost its worth against the British pound. The pound's buying and selling rate improved and ended at Rs 148.60 and Rs 149.50 against the Thursday closing of Rs 148.10 and Rs 149.00, respectively, the dealers said.
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).