Firmness prevailed on the money market on Thursday as the rupee did not move sharply in terms of dollar, dealers said. The rupee was almost unchanged versus the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
In the fourth Asian trade, sentiment towards most emerging Asian currencies has worsened from two weeks ago, after comments from Federal Reserve officials heightened market expectations for a U.S. rate hike this month, a Reuters poll showed. Investors were estimated to have trimmed their bullish bets on the Indonesian rupiah, Indian rupee, Thai baht and Taiwan dollar, according to the survey. The dollar was trading against the Indian rupee at Rs 66.793, the greenback was at 4.457 versus the Malaysian ringgit and the US currency was at 6.919 in terms of the Chinese yuan.
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Open Bid Rs.106.20
Open Offer Rs.106.40
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Bid Rate Rs.104.84
Offer Rate Rs.104.85
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According to currency dealers, the US dollar commenced trading on its overnight closing rates of Rs 106.10 and Rs 106.50 as its buying and selling rates, respectively. At the close, it registered appreciation and ended at Rs 106.20 on buying counter. However, no change in its value took place as it sustained its overnight closing trend of Rs 106.50 on selling counter, respectively, they added.
Furthermore, the rupee showed mixed patterns as it moved both ways against the pound sterling. The British currency was bought and sold at Rs 127.90 and Rs 129.00 against Wednesday's closing rates of Rs 127.40 and Rs 129.50, respectively, they said.
The dollar opened at Rs 107.50 (buying) and Rs 107.60 (selling). It closed at the same rates by the end of evening session.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.