The rupee posted fresh gains against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee showed an improvement of 10 paisas in terms of the dollar for buying and selling at Rs 105.80 and Rs 106.00 respectively, they said. The rupee also picked up 40 paisas in relation to the euro for buying and selling at Rs 114.60 and Rs 116.10 respectively, they said.
Official flash estimates put euro zone inflation at 1.9 percent in the first quarter, on the verge of crossing over the European Central Bank's target of below but close to 2 percent, and above estimates for a rise of 1.8 percent. According to standard EU measures, in Italy it was 2 percent. That helped drive the euro as high as $1.0947, just below a 5-1/2-month high of $1.0950 struck earlier in the week.
Analysts said the latest inflation figures could prompt the ECB to take a more hawkish stance in its June statements by either upgrading its assessment of the European economy or suggesting less need for stimulus. The dollar rose as much as 0.4 percent against the yen to a session high of 111.71 yen, just below a nearly four-week high of 111.77 touched April 26, after US Labour Department data showed private wages and salaries accelerated 0.9 percent in the first quarter. That marked the largest increase in 10 years.

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Open Bid      Rs.105.80
Open Offer    Rs.106.00
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