THE RUPEE: rates unchanged

03 Jun, 2018

Steadier trend was seen on the money market on Thursday as the rupee showed no change against the dollar in process of trading activity, dealers said. The rupee held the overnight levels against the dollar for buying and selling at Rs 118.50 and Rs 119.00, they said. The rupee gained versus the euro for buying and selling at Rs 138.00 and Rs 139.50, they said.
Against a basket of six currencies, the dollar rose half a percent to a session high of 94.45. The move, however, was relatively muted compared to the blockbuster jobs numbers.
The euro edged higher on Friday, breaking a six-week losing streak, supported by a drop in Italian bond yields after a revived coalition deal between two anti-establishment parties pulled the country back from snap elections.



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Open Bid Rs.118.50
Open Offer Rs.119.00
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The greenback resumed trading on its overnight closing of Rs 119.00 and Rs 119.50 as its buying and selling rates, respectively. At the close, no change in its value took place for buying whereas it depreciated by 30 paisas for selling at Rs 119.20, local currency dealers said.
Moreover, the national currency witnessed divergent trend in terms of trading against the pound sterling which was ended for buying and selling at Rs 157.55 and Rs 159.00 as compared to the overnight closing trend of Rs 157.65 and Rs 158.45 respectively, they added.
The dollar opened at Rs 119 (buying) and Rs 119.10 (selling) against last rate of Rs118.80 (buying) and Rs 118.90 (selling). It closed at Rs 119 (buying) and Rs 119.10 (selling).

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