THE RUPEE: steadier trend

13 May, 2018

The rupee sustained its overnight levels in terms of the dollar on the money market on Saturday in the process of trading, dealers said. The rupee showed no change in relation to the greenback for buying and selling at Rs 117.30 and Rs 117.80, they said. The rupee, however, fell by 15 paisas versus the euro for buying and selling at Rs 139.75 and Rs 141.25, they added.
The Swedish crown continued its rally, as more traders exited their bearish bets on hints that some Riksbank officials are open to raising interest rates despite worries about low inflation.
The euro rose for a second day as the greenback retreated further from a 2018 peak reached earlier this week. The single currency, however, was still on track for a loss for a fourth straight week against the dollar.



========================
Open Bid Rs.117.30
Open Offer Rs.117.80
========================

According to currency dealers, the short supply phenomenon of the US dollar prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 117.20 and Rs 117.75 as compared to the overnight closing trend of Rs 117.10 and Rs 117.65 respectively.
Moreover, the national currency recovered by 10 paisas against the pound sterling for buying at Rs 157.70 whereas it did not witness any change as it firmly held its opening trend for selling at Rs 158.50, they added.
The dollar opened at Rs 117.50 (buying) and Rs 118 (selling) against last rate of Rs 118 (buying) and Rs 118.50 (selling). It closed at Rs 117.50 (buying) and Rs 118 (selling).

Read Comments