A divergent trend was witnessed on the money market on Friday as the rupee played both sides against the dollar in the process of trading, dealers said. The rupee failed to sustained overnight gains in terms of the dollar, losing 30 paisas for buying and selling at Rs 110.40 and Rs 110.50 respectively, they said.
In the final Asian market, the dollar was on the defensive on Friday after wrangling over a bill to change the US tax code dented confidence, while the euro sagged after the European Central Bank signalled it would maintain stimulus for as long as needed.
The greenback was off 0.1 percent at 112.315 yen, having dropped to an eight-day low of 112.065 overnight.
The US currency had climbed to a one-month high of 113.750 yen on Tuesday. But it made a U-turn midweek after the Federal Reserve tightened monetary policy as expected but also expressed concern about low inflation.
The dollar lost further ground after two US Republican senators on Thursday were reported to have sought changes to the proposed legislation to overhaul the US tax code.
The tax bill needs a simple majority to pass in the Senate, in which Republicans hold just 52 of the 100 seats and no Democrats are expected to support it.
The euro was little changed at $1.1780 after losing about 0.4 percent overnight. The common currency flagged after the European Central Bank on Thursday raised growth and inflation forecasts for the euro area, but stuck with its pledge to provide stimulus for as long as needed.
The dollar was trading against the Indian rupee at Rs 64.11, the greenback was available at 4.083 in terms of the Malaysian ringgit and the US currency was at 6.607 in relation to the Chinese yuan.

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Open Bid       Rs.109.80
Open Offer     Rs.110.30
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Bid Rate       Rs.110.40
Offer Rate     Rs.110.50
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