Rates were almost unchanged on the money market on Friday as the rupee sustained overnight levels against the dollar in the process of trading, dealers said. The rupee also did not budge any side in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively.
The dollar index, which measures the greenback against six major peers, gained 0.2 percent to 100.57. The index had recovered overnight to hit 100.73, after dipping to a seven-week low of 99.793. "The dollar was helped by rising US Treasury yields and strong equities," said Minori Uchida, chief FX analyst at Bank of Tokyo Mitsubishi UFJ.
"Trump has signed several executive orders since his inauguration, showing continuity from his campaign days, so the markets expect him to go ahead with the fiscal stimulus as well," Uchida added. The dollar was trading against the Indian rupee at Rs 68.17, the greenback was available at 4.4280 in terms of the Malaysian ringgit and the US currency was at 6.8807 versus the Chinese yuan.
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Open Bid Rs.107.40
Open Offer Rs.107.70
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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According to currency dealers, the trading of the US dollar commenced on it overnight closing rates of Rs 107.80 and Rs 107.90 as its buying and selling rates, respectively.
At close of trading, the dollar declined its worth to Rs 107.60 on the buying side. However, it further appreciated by five-paisa and ended at Rs 107.95 on the selling side, respectively, they added.
Likewise, the Pakistani rupee also followed the same suit versus the pound sterling. The British currency was bought and sold at Rs 134.80 and Rs 135.60 against the Thursday's closing rates of Rs 134.40 and Rs 136.40, respectively, they said.
The dollar opened at Rs 108.30 (buying) and Rs 108.40 (selling) against same last rate. Dollar closed at Rs 108.30 (buying) and Rs 108.40 (selling).
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).