THE RUPEE: Minor changes

26 Aug, 2018

The rupee showed slight changes in terms of the dollar on the money market on Saturday in the process of trading activity, dealers said. The rupee was unchanged against the dollar for buying at Rs 122.50 while it shed 30 paisas for selling at Rs 123.80, they said. The rupee dropped sharply in relation to the euro for buying and selling at Rs 139.25 and Rs 143.00, they said.
The dollar was also hit by moves by the People's Bank of China to stabilize the yuan, which had been under broad pressure amid trade tensions between the United States and China.
The dollar index, which measures the greenback against a basket of six other major currencies, fell a quarter of a percent from its position at 10:00 a.m. EDT when Powell's remarks were made public. It was last at 95.145, down 0.64 percent.



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Open Bid Rs.122.50
Open Offer Rs.123.80
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After a long break due to Eid holidays, the dollar resumed trading on a healthy note and kept on soaring throughout the day following fresh buying. At close of trading, the dollar ended higher at Rs 121.35 and Rs 122.50 against the previous closing of Rs 120.40 and Rs 122.00 on buying and selling side, respectively.
Similarly, the rupee stayed weak and depreciated against the British pound that was purchased and sold at Rs 153.50 and Rs 155.00 as compared to Rs 150.70 and Rs 152.50 of pre-holidays trading session.
The dollar opened at Rs 112.50 (buying) and Rs 122.60 (selling) against same last rate. It closed at Rs 112.50 (buying) and Rs 122.60 (selling).

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