A downward trend prevailed on the money market on Saturday as the rupee shed modestly against the dollar in the process of trading, dealers said. The rupee fell by 10 paisas in terms of the dollar for buying and selling at Rs 105.50 and Rs 105.70 respectively; however it gained 45 paisas against the euro for buying and selling at Rs 115.50 and Rs 116.70, they added.
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Open Bid Rs 105.50
Open Offer Rs 105.70
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According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 105.60 and Rs 105.80 on buying and selling side respectively.
The dollar did not observe any change in its demand and supply situation that helped the rupee stability in the open market. At close, the dollar's opening rate continued to prevail throughout the day.
On the contrary, the rupee failed to maintain upward trend and depreciated against the British pound that was purchased and sold at Rs 140.00 and Rs 141.00 as compared with the Friday closing of Rs 138.50 and Rs 140.60 to, respectively, the dealers added.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 104.50 (buying) and Rs 105 (selling).
Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138 (selling) by the end of second session.