The rupee moved slightly in relation to the dollar on Friday in the process of trading, dealers said. The rupee gave up overnight gains in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
The dollar index, which tracks the greenback against six major currencies, fell 0.2 percent to 100.97. It was on track to shed 0.2 percent for the week.
The dollar came off peaks after Fed Chair Yellen spoke at the Stanford Institute for Economic Policy Research in early Asian trading hours. Yellen noted the US central bank should continue to raise interest rates slowly to keep inflation low and jobs plentiful and avoid harming the recovery the Fed has sought to nurture.
The dollar was trading against the Indian rupee at Rs 68.08, the greenback was at 4.4450 in terms of the Malaysian ringgit and the US currency was at 6.8669 versus the Chinese yuan.
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Open Bid Rs.107.70
Open Offer Rs.108.00
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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According to currency dealers, the US dollar commenced trading on its overnight closing of Rs 107.70 and Rs 108.30 as its buying and selling rates, respectively. At the close, it increased to Rs 107.75 on buying side. However, in the absence of selling spree, it declined to Rs 108.20 on selling side, they added.
Furthermore, the local currency remained strong for the second consecutive day versus the pound sterling. The pound's buying and selling rates further slid from the Thursday's closing rates of Rs 131.80 and Rs 132.60 to Rs 131.40 and Rs 132.50, respectively, they said.
The dollar opened at Rs 108.30 (buying) and Rs 108.40 (selling) against same last rate. At the end of second session, the dollar closed at the same levels.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It did not observe further change in the second session and closed at Rs 130 (buying) and Rs 131.50 (selling).