THE RUPEE: rates unmoved

21 Jan, 2018

The rupee stayed put against the dollar on the money market on Saturday in the process of trading activity, dealers said. The rupee depicted no change versus the dollar for buying at Rs 112.00, and it sustained its level for selling at Rs 112.30, they said. While, the rupee picked up 35 paisas in terms of the euro for buying and selling at Rs 136.25 and Rs 138.25 respectively, they added.
On Thursday, the US House of Representatives passed a bill to fund government operations through to Feb. 16 and avoid agency shutdowns from Saturday when existing allocations expire. The bill has yet to be approved by the Senate, where it faces an uncertain future.
"At the start of the week, it was an outside risk. Now it's a real risk," Vassili Serebriakov, currency strategist at Credit Agricole in New York, said of a government shutdown.
Some investors downplayed a possible shutdown, saying the market impact would be mild anyway.



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Open Bid Rs 112.00
Open Offer Rs 112.30
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According to currency dealers, the dollar resumed trading on a diverse pattern amidst fluctuating demand and supply situation in the market. At the close, it was ended at Rs 112.00 and Rs 112.35 for buying and selling, respectively, as compared to the overnight closing of Rs 111.90 and Rs 112.35 respectively, they added.
In addition, the national currency showed strength as it registered appreciation versus the pound sterling. The pound's buying and selling rates slid from Friday's closing of Rs 154.00 and Rs 155.00 to Rs 153.70 and Rs 154.50 respectively, they said.
The dollar opened at Rs 112.25 (buying) and Rs 112.35 (selling) against last rate of Rs 112 (buying) and Rs 112.10 (selling). It closed at Rs 112.25 (buying) and Rs 112.35 (selling).

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