The rupee managed to gain slightly in terms of the dollar on the money market on Friday in the process of trading, dealers said. The rupee was unchanged versus the dollar for buying and selling at Rs 104.83 and Rs 104.84, they said.
The dollar index against a group of major currencies stood flat at 100.470 after hitting 100.410 overnight, its lowest since Feb. 9. The index had soared to a one-month high of 101.760 as recently as Wednesday, as US Federal Reserve Chair Janet Yellen spoke in support of a near-term rate hike and the markets also saw robust US inflation and retails sales data.
The euro was steady at $1.0674 after climbing 0.7 percent the previous day. It was on track to eke out a 0.2 percent gain against the greenback this week, having been hit the previous week by perceived political risks to the euro zone.
The dollar was trading against the Indian rupee at 67.03, the greenback was at 4.4560 in terms of the Malaysian ringgit and the US currency was at 6.8664 versus the Chinese yuan.
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Open Bid Rs.107.00
Open Offer Rs.107.20
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Bid Rate Rs.104.83
Offer Rate Rs.104.84
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According to currency dealers, the US dollar resumed trading on a depressed note amidst lack of buyers' interest in the market. Consequently, it slid to Rs 107.00 and Rs 107.40 on buying and selling counters, respectively, as compared to the overnight closing rates of Rs 107.35 and Rs 107.50, respectively, they added.
Likewise, the local currency also followed the same pattern against the pound sterling. The pound's buying and selling rates went down from the Thursday's closing rates of Rs 133.30 and Rs 134.35 to Rs 132.10 and Rs 133.10, respectively, they said.