The rupee managed to recover modestly against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62, they said.
The euro was little changed at $1.1867 after sliding as low as $1.1838 overnight, its weakest since Dec. 22.
The common currency was a shade lower at 129.400 yen and on its eighth session of losses, having plumbed a six-week low of 129.240 on Tuesday.
The dollar was trading against the Indian rupee at Rs 67.340, the greenback was at 3.948 versus the Malaysian ringgit and the US currency was at 6.373 in relation to the Chinese yuan.
========================
Open Bid Rs.117.70
Open Offer Rs.118.20
========================
========================
Bid Rate Rs.115.61
Offer Rate Rs.115.62
========================
The dollar resumed trading on a negative note following lack of buyers' interest on the market. Resultantly, it ended lower for buying and selling at Rs 117.50 and Rs 118.30 as compared to the overnight closing trend of Rs 117.75 and Rs 118.50 respectively, local currency dealers said.
On the contrary, the national currency remained under pressure for the third consecutive day against the pound sterling. The pound's buying and selling further rates drifted from Tuesday's closing of Rs 158.40 and Rs 159.60 to Rs 159.00 and Rs 160.00 respectively, they added.
The dollar opened at Rs 118 (buying) and Rs 118.50 (selling) against last rate of Rs 117 (buying) and Rs 117.50 (selling). It closed at Rs 118 (buying) and Rs 118.50 (selling).