The rupee fell against the dollar on the money market on Friday in the process of trading, dealers said. The rupee remained inert against the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said. In the final Asian trade, the dollar was gunning for robust weekly gains, which accelerated after Federal Reserve Chair Janet Yellen provided a strong signal that US interest rates will likely increase by year-end.
The dollar was trading against the Indian rupee at Rs 68.08, the US currency was available at 4.4090 versus the Malaysian ringgit and the greenback was available at 6.8899 in relation to the Chinese yuan.
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Open Bid Rs.106.40
Open Offer Rs.106.60
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Bid Rate Rs.104.84
Offer Rate Rs.104.85
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The trading of the US dollar resumed on its overnight closing of Rs 106.40 and Rs 106.80 as its buying and selling rates, respectively. The short supply of the dollar helped its appreciation at Rs 106.50 on buying counter. However, its opening rates prevailed till close of trading on the selling counter, the currency dealers said.
Moreover, the rupee remained strong as it gained by 40-paisa versus the pound sterling. The pound's buying and selling rates declined from the Thursday's closing rates of Rs 132.00 and Rs 133.00 to Rs 131.60 and Rs 132.60, 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).