The dollar is likely to hit new high at Rs 90 in the near future, if importers continue buying to meet the payment requirements, money experts said on the currency market on Saturday. The rupee shed 50 paisa against dollar for buying at 89.30 and fell by 40 paisa for selling at 89.60, they said.
Investors were wary of placing aggressive bets in favour of the 12-year-old currency ahead of the ECB meeting next Thursday and the EU summit the following day. French and German leaders are to meet on Monday to outline joint proposals to be discussed at the EU meeting.
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Open Buying Rs 89.30
Open Selling Rs 89.60
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According to dealers, dollar moved up and closed at Rs 89.50 and Rs 90.00 as buying and selling rates against overnight closing of Rs 89.05 and Rs 89.70, respectively.
However, the rupee remained unchanged on buying side while it declined on selling side against British pound. The pound was traded at Rs 138.30 and Rs 138.80 as compared to last day closing of Rs 138.30 and Rs 138.70, respectively, dealers said.
The dollar opened at Rs 87.60 (buying) and Rs 88.05 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 87.60 (buying) and Rs 88.05 (selling).
Pound Sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).