The rupee managed to recover sharply against the dollar on the money market on Friday in the process of trading activity, dealers said. The rupee stayed put in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said.
The dollar's index against a basket of six major currencies held steady at 92.417. That was down from a peak of 92.834 set on Wednesday, the greenback's strongest level since late December.
The dollar index has climbed more than 0.9 percent so far this week, putting it on track for a third straight weekly gain.
The dollar was trading against the Indian rupee at Rs 66.68, the greenback was at 3.932 in terms of the Malaysian ringgit and the US currency was available at 6.347 versus the Chinese yuan.
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Open Bid Rs.117.80
Open Offer Rs.118.30
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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According to currency dealers, the US dollar resumed trading on a negative note following fresh supply in the market. Consequently, the dollar could not hold its strength and ended for buying and selling at Rs 117.70 and Rs 118.50 as compared to the overnight closing trend of Rs 118.30 and Rs 118.70 respectively, they added.
Versus the pound sterling, the national currency maintained upward trend for the third consecutive day. The pound's buying and selling rates further slid from Thursday's closing of Rs 160.80 and Rs 161.50 to Rs 158.80 and Rs 161.00 respectively, they said.
The dollar opened at Rs 11.30 (buying) and Rs 118.40 (buying) against same last rate. It closed at Rs 11.30 (buying) and Rs 118.40 (buying).