The rupee posted modest gains versus the dollar on the money market on Saturday in the process of trading, dealers said. The rupee picked up 10 paisas against the dollar for buying and selling at Rs 106.10 and Rs 106.30 respectively, they said. It also gained 55 paisas in terms of the euro for buying and selling at Rs 112.50 and Rs 114.00, they said.
The euro rebounded from a two-week trough, and the dollar fell to its low on the day against the Japanese yen after comments from New York Fed President William Dudley. Seen as one of the most important members of the Fed's rate-setting committee, Dudley said the central bank was in no rush to tighten monetary policy.
His comments followed less-than-stellar data on US consumer spending that showed that even as confidence hit its highest level in more than 16 years, Americans are still holding their wallets tightly. Consumer spending, which accounts for more than two-thirds of US economic activity, edged up just 0.1 percent last month. The dollar index, which tracks the greenback against six rival currencies, was little changed from its late Thursday levels at 100.39. Backed by early-week gains, however, it is headed for its best week since mid-February.

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Open Bid      Rs 106.10
Open Offer    Rs 106.30
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