The rupee depicted no change against the dollar on the money market on Saturday, dealers said. The rupee showed no variation in relation to the dollar for buying and selling at Rs 107.10 and Rs 107.30, they said. The rupee picked up 50 paisas versus the euro for buying and selling at Rs 125.80 and Rs 127.05 respectively, they said.
The dollar rose to a three-month high against the Japanese yen, at 113.46 yen, and a five-month high against the Swiss franc, touching 0.9846 franc. Traders seek the yen and Swiss franc in times of uncertainty and fear and sell the currencies when they favor riskier assets.
"This is clearly a picture of somewhat of a risk-on rotation today, and it's ignited some of the animal spirits as we take another step closer to the potential for tax reform coming to fruition," said Bill Northey, chief investment officer at US Bank Wealth Management in Helena, Montana.
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Open Bid Rs 107.10
Open Offer Rs 107.30
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