A firmer trend was witnessed on the money market on Friday as the rupee managed to recover slightly against the dollar in the process of trading, dealers said. The rupee inched up versus the dollar as the national currency gained three paisas for buying and selling at Rs 104.78 and Rs 104.80 respectively.
The rupee rose by 50 paisas in terms of the euro for buying and selling at Rs 116.00 and Rs 117.70 respectively, they said.
In the final Asian trade, the recently beleaguered dollar rose to its session high against the yen after the Bank of Japan offered to buy Japanese government bonds in a surprise operation aimed at bringing down JGB yields, as investors awaited US jobs data later in the session.
The dollar was up 0.2 percent at 113.04 yen after rising as high as 113.24 earlier. It had slumped to 112.05 yen overnight, its lowest since late November, and was still on track to fall 1.8 percent for the week.
The BOJ offered to buy benchmark 10-year Japanese government bonds in a special operation on Friday, aimed at keeping the 10-year yield at its target of around zero percent. "The yen might continue to weaken against the dollar after today's action," said Masashi Murata, senior currency strategist at Brown Brothers Harriman.
"Some participants may have concerns about the BOJ's previous actions, or lack of action, when JGB yields have risen, so it's a good signal," he said.
"But my feeling is that BOJ also doesn't want to keep expanding their balance sheet."
The dollar was trading against the Indian rupee at Rs 67.39, the greenback was at available at 4.4230 in terms of the Malaysian ringgit and the US currency was at 6.8692 versus the Chinese yuan.

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Open Bid       Rs.107.70
Open Offer     Rs.107.90
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Bid Rate       Rs.104.78
Offer Rate     Rs.104.80
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