THE RUPEE: firm trend

04 Oct, 2014

The rupee firmly held the present levels against the dollar on the local currency market on Friday in the process of trading, dealers said.
In the final Asian trade, the dollar rebounded against the yen from steep losses overnight while investors awaited US non-farm payrolls data later in the day for further relief.
The dollar had fallen from six-year highs as a slide in global equities had driven US Treasury yields lower and increased demand for the safe-haven yen.
The dollar was trading against the Indian rupee at Rs 61.61, the greenback was at 3.2450 in terms of the Malaysian ringgit and the US currency was available at 6.139 versus the Chinese yuan.



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Open Bid Rs 102.20
Open Offer Rs 102.40
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Bid Rate Rs 102.52
Offer Rate Rs 102.55
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According to the currency dealers, the dollar was opened on a healthy note and registered gain following fresh buying. At close of trading, the dollar was ended higher at Rs 102.25 and Rs 102.50 as its buying and selling rates against Rs 102.15 and Rs 102.40 of, Thursday, respectively.
On the contrary, the rupee showed strength and was improved against the pound sterling. Because of selling pressure, the pound was slide down from overnight closing of Rs 166.25 and Rs 166.50 to Rs 165.25 and Rs 165.50, respectively, the dealers said.
The dollar opened at Rs 101 (buying) and Rs 101.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling) against.
Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).

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