The rupee dropped against dollar, it, however, gained in terms of euro on the currency market on Thursday, dealers said. The rupee depreciated in relation to dollar, losing six paisa for buying at 90.44 and shedding five paisa for selling at 90.46, they said.
The rupee, however, gained 39 paisa for buying at Rs 119.00 and it also picked up 91 paisa for selling at Rs 120.00. In the fourth Asian trade euro hovered within shouting distance of a three-week trough on yen and dollar after a poor Spanish bond auction reignited jitters about the euro zone debt crisis, while commodity currencies were a shade stronger after a sell-off.
The euro and risk currencies have been under pressure against dollar, which climbed broadly after Fed policy meeting minutes released on Tuesday showed the central bank was becoming less eager to print more money to bolster the economy.
The dollar was trading versus the Indian rupee at Rs 51.11, it was available against the Malaysian ringgit at 3.0590 and the greenback was at 6.3088 in terms of the Chinese yuan. Interbank buy/sell rates for aka against dollar on Thursday: 81.78-81.83 (previous 81.77-81.83). Call Money Rates: 07.00-14.50 percent (previous 07.00-14.00 percent).
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Open Buying Rs 90.80
Open Selling Rs 91.00
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Buying Rs 90.44
Selling Rs.90.46
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According to the currency dealers, there was no visible change in the dollar's demand and supply situation that helped rupee stability in the open market. At the end of trading the dollar was closed at Rs 90.80 and Rs 91.05 on buying and selling side against the overnight closing of Rs 90.8 and Rs 91.1, respectively. However, some moneychangers quoted buying rate of Rs 90.9 for a dollar.
The rupee also remained strong and appreciated its worth against the pound sterling. The pound was purchased and sold at Rs 143.5 and Rs 144 as compared to Rs 143.8 and Rs 144.7 of Wednesday, respectively, the dealers said.
The dollar opened at Rs 91 (buying) and Rs Rs 91.20 (selling) against the same previous rate. It did not observe any further change in the second session and closed at Rs 91 (buying) and Rs 91.2 (selling).
Pound Sterling opened at Rs 142 (buying) and Rs 142.5 (selling) against the same previous rate. It did not observe further change in the evening session and closed at Rs 142 (buying) and Rs 142.5 (selling).