The rupee managed to retain overnight levels against the dollar on the money market on Wednesday in the process of trading activity, dealers said. The rupee was unchanged in relation to the dollar for buying and selling Rs 115.61 and Rs 115.62 respectively, they said.
In the third Asian trade, the dollar hovered near a five-month high against a group of major currencies on Wednesday, as a surge in the benchmark 10-year Treasury yield above 3 percent reignited a rally that had lost steam last week.
The dollar index versus a basket of six major peers stood at 93.270 after rallying to 93.457 overnight, it's highest since Dec 22. It was still 0.05 percent higher than Tuesday.
The dollar was trading against the Indian rupee at Rs 68.070, the US currency was available at 3.962 in terms of the Malaysian ringgit and the greenback was at 6.377 in relation to the Chinese yuan.
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Open Bid Rs.117.30
Open Offer Rs.117.80
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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The dollar resumed trading on a negative and remained under pressure for another day note amidst lack of buyers' interest in the market. Consequently, it further ended lower for buying and selling at Rs 117.20 and Rs 117.65 as compared to the overnight closing trend of Rs 117.30 and Rs 117.75 respectively, local currency dealers said.
Likewise, the national currency also followed the same suit in terms of trading against the pound sterling. The pound's buying and selling rates also slid from Tuesday's closing of Rs 157.40 and Rs 159.00 to Rs 157.20 and Rs 158.40, they added.
The dollar opened at Rs 117.50 (buying) and Rs 118 (selling) against same last rate. It closed at Rs 117.50 (buying) and Rs 118 (selling).