A rising trend was seen on the money market on Friday as the rupee managed to recover more ground against the dollar, dealers said. The rupee almost held the overnight levels against the dollar for buying and selling at Rs 101.78 and Rs 101.79 respectively, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee maintained upward trend versus the dollar, gaining more 20-paisa for buying at Rs 102.60 while it picked up 10-paisa for selling at Rs 102.90. It also rose by 20-paisa in terms of the euro for buying and selling at Rs 114.20 and Rs 115.20 respectively, they said.
In the final Asian trade, the dollar lost some ground on the yen but edged up against the euro, as Greece’s continued struggle to reach a funding deal with lenders kept the common currency on tenterhooks.
The euro stood at $1.1191, down about 0.1 percent after drifting in a razor-thin $1.1179-$1.1208 range, even narrower than its slim $1.1153-$1.1228 range on Thursday. It was down about 1.4 percent for the week. Against the yen, the common currency skidded about 0.4 percent on the day to 138.05 yen, down about 0.9 percent for the week but holding above a nearly one-month low of 137.66 hit on Thursday. The dollar was trading against the Indian rupee at Rs 63.62, the greenback was at 3.7626 in terms of the Malaysian ringgit and the US currency was at 6.209 in relation to the Chinese yuan.
Open Bid Rs.102.60
Open Offer Rs.102.90
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs.101.78
Offer Rate Rs.101.79
Source: Business Recorder