In the absence of major payment the rupee managed to recover modestly against the dollar in process of trading, dealers said on Wednesday. The rupee inched up versus the dollar, gaining six paisa for buying at 90.76 and it also rose by eight paisa for selling at 90.78, they said.
The dollar fell 0.3 percent to 82.92 yen, while the euro eased 0.2 percent to 110.52 yen to inch away from a 4-1/2 month high of 111.43 yen hit last week on trading platform EBS. The Indian rupee pulled back from the session's low on as exporters selling dollars aided, but remained weak on the back of high demand for the greenback from oil importers and negative shares that accentuated foreign fund outflow fears. The rupee ended at 50.7750/7850 to the dollar, weaker than Tuesday's close of 50.735/745, after touching a low of 51.02.
The yuan closed slightly higher against the dollar and the People's Bank of China (PBOC) fixed a slightly weaker mid-point, signaling it may favour a pull-back in coming days after setting the mid-point at record highs in recent sessions. Still, traders believe the government will allow the yuan to appreciate about 0.7 percent against the dollar in the first half of this year, guiding it to move in a relatively wide range of 6.25 to 6.35.
========================
Open Buying Rs 91.00
Open Selling Rs 91.20
========================
========================
Buying Rs.90.76
Selling Rs.90.78
========================