The rupee shed slightly against the dollar on the money market on Tuesday in the process of trading dealers said. The rupee lost further 10 paisas in relation to the dollar for buying and selling at Rs 105.80 and Rs 106.00 respectively, they said.
In the second Asian trade, the dollar held steady at near 8-week highs versus the yen, with investors awaiting the Federal Reserve's policy statement this week for fresh hints on the possible pace and timing of further US monetary tightening.
The dollar last changed hands at 111.52 yen, trading within sight of Monday's peak of 111.665 yen, its highest level since July 27.
The greenback has benefited from a recent surge in US bond yields. The US 10-year Treasury yield had reached a one-month high of 2.237 percent on Monday.
The dollar was trading against the Indian rupee at Rs 64.150, the US currency was available versus the Malaysian ringgit at 4.189 and the greenback was at 6.589 in terms of the Chinese yuan.
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Open Bid Rs 105.80
Open Offer Rs 106.00
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Bid Rate Rs 105.40
Offer Rate Rs 105.41
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According to currency dealers, the US dollar commenced trading on a positive note following short supply of the phenomenon in the currency market.
At the close, it rose to Rs 105.85 and Rs 106.15 for buying and selling, respectively, as compared to the overnight closing rates of Rs 105.70 and Rs 106.05 respectively, they added.
Versus the pound sterling, the local currency also shed by 15-paisa on buying counter and ended at Rs 141.80 as compared to the overnight closing rate of Rs 141.65. However, it did not witness any change on selling counter as it sustained its opening rate of Rs 142.50, they said.
The dollar opened at Rs 107.10 (buying) and Rs 107.20 (selling) against same last rate. It closed at Rs 107.10 (buying) and Rs 107.20 (selling) in evening session.