The rupee crossed barriers of 106 marks against the dollar on the money market on Wednesday, dealers said. The rupee gained seven paisas in relation to the dollar for buying and selling at Rs 104.76 and Rs 104.78 respectively, they said.
The yuan rose after China's central bank set its daily guidance rate higher, reflecting the greenback's slide. The dollar was trading against the Indian rupee at Rs 66.80, the greenback was available at 4.1580 versus the Malaysian ringgit and US currency was at 6.7698 versus the Chinese yuan.
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Open Bid Rs.105.80
Open Offer Rs.106.00
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Bid Rate Rs.104.76
Offer Rate Rs.104.78
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According to the currency dealers, the US dollar resumed trading against its Tuesday's closing of Rs 106.00 and Rs 106.15 as its buying and selling rates, respectively. The dollar did not witness any change in its buying rate that continued to prevail till close of trading. However, its selling rate further drifted up and ended at Rs 106.25, respectively.
On the other hand, the rupee registered a considerable gain in relation to the pound sterling on buying side but remained unchanged on the selling side. The British currency was bought and sold at Rs 128.70 and Rs 129.40 against the overnight closing of Rs 129.00 and Rs 129.40, respectively, the dealers added.
The dollar opened at Rs 105 (buying) and Rs 105.10 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 105 (buying) and Rs 105.10 (selling).
Pound Sterling opened at Rs 132 (buying) and Rs 133 (selling). It did not observe further change in the second session and closed at Rs 132 (buying) and Rs 133 (selling).