The rupee showed mixed trend on the local money market on Wednesday against the dollar in the process of trading, dealers said. The rupee lost 13 paisas versus the dollar for buying and selling at Rs 104.76 and 104.78 respectively, dealer said.
In the third Asian trade, most emerging Asian currencies fell on Wednesday, taking their cue from the yen's slide after the Bank of Japan overhauled its policy framework and adopted a target for long-term interest rates.
A rise in bond yields across Asia also dampened sentiment on the regional currencies, with Japanese government bond yields up after the BOJ said it would aim to guide the 10-year bond yield to around zero percent as part of its revamped policy framework. The dollar was trading against the Indian rupee at Rs 67.07, the greenback was available at 4.1480 versus the Malaysian ringgit and the US currency was at 6.6718 in terms of the Chinese yuan.
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Open Bid Rs.104.90
Open Offer Rs.105.10
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Bid Rate Rs.104.76
Offer Rate Rs.104.78
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The dollar resumed trading at its day earlier closing of Rs 104.60 and Rs 105.30 as its buying and selling rate, respectively. Because of short supply, the dollar registered considerable gain on buying side and ended higher at Rs 104.90. However, its selling rate did not observe any change during the day's trading and ended at the opening level of Rs 105.30, the currency dealers said. The rupee also remained under pressure and depreciated its wroth against the pound sterling that was traded at Rs 135.00 and Rs 136.50 on buying and selling counter as compared with the Tuesday closing of Rs 134.60 and Rs 136.30, respectively, they 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.