Rising trend prevailed on money market on Friday in the process of trading, dealers said. The rupee shed slightly in terms of the dollar for buying and selling at Rs 105.42 and Rs 105.44 respectively, they said.
In the final Asian trade, the dollar rose broadly on Friday, bolstered by increased optimism about the prospects for U.S. tax reforms, while the New Zealand dollar hit five-month lows, hampered by uncertainty over economic policies under a new government.
US President Donald Trump's drive to overhaul the U.S. tax code cleared a critical hurdle late Thursday when the Senate approved a budget blueprint for the 2018 fiscal year that will pave the way for Republicans to pursue a tax-cut package without Democratic support.
The dollar was trading against the Malaysian ringgit at 4.224 and the greenback was at 6.624 in terms of the Chinese yuan.
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Open Bid Rs.107.10
Open Offer Rs.107.30
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Bid Rate Rs.105.42
Offer Rate Rs.105.44
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According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 107.35 and Rs 107.60 as its buying and selling rate, respectively. Amid sluggish trading trend, the dollar marginally declined to Rs 107.30 on buying counter whereas its selling rate ended without any change.
However, rupee remained under pressure and depreciated its worth against the pound sterling that was traded at Rs 141.10 and Rs 142.00 as compared with the Thursday closing of Rs 140.80 and Rs 141.80 on buying and selling side, respectively, the dealers added.
The dollar opened at Rs 106.70 (buying) and Rs 107 (selling) against the same last rate. It closed at Rs 106.70 (buying) and Rs 107 (selling).