Declining trend persisted on the money market on Tuesday as the rupee continued its slide against the dollar in the process of trading, dealers said. The rupee continued its decline versus the dollar, shedding more 10 paisas for buying and selling at Rs 107.00 and Rs 107.20 respectively, they said. The rupee was trading in relation to the euro for buying and selling at Rs 122.70 and Rs 123.70 respectively, they said.
The dollar's index against a basket of six major currencies sank to a 10-month low of 94.75. From its 14-year peak of 103.82 touched on Jan 3, it has lost 8.4 percent. Two more Republican Senators, Jerry Moran and Mike Lee, announced their opposition on Monday to a revised Republican healthcare bill, delivering a serious blow to the legislation.
Friday's weak reading on US inflation and retail sales also fanned speculation that the Fed may not have justification for another rate hike by the end of this year, despite policymakers' projection for such a move. Money market instruments are now pricing in less than 50 percent chance of a rate increase during the rest of the year.
The dollar was trading against the Indian rupee at Rs 64.345, the greenback was at 4.284 in terms of the Malaysian ringgit and the US currency was available at 6.761 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 105.39
Offer Rate     Rs 105.41
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