The rupee managed to extend overnight gains against the dollar on the currency market on Friday, dealers said. The rupee strengthened versus the dollar, picking up more 22-paisa for buying and selling at Rs 101.35 and Rs 101.38 respectively, they said.
In the final Asian trade, the Indian rupee ended at a two-week closing high on Friday, tracking broad-based strength in Asian currencies against the dollar and continuing large foreign inflows into Indian financial markets, particularly debt, aiding gains.
For the week, the rupee staged a turnaround, snapping a five-week fall. The local unit bucked the broader trend in Asia by gaining 0.4 percent on the week, although it was not alone as the Philippine peso also rose 0.8 percent. The dollar was trading against the Indian rupee at Rs 61.85, the US currency was at 3.4685 in terms of the Malaysian ringgit and the greenback was at 6.1528 versus the Chinese yuan.
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Open Bid Rs.101.70
Open Offer Rs.101.90
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Bid Rate Rs.101.35
Offer Rate Rs.101.38
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According to the currency dealers, the greenback opened at Rs 102 (buying) and Rs 102.25 (selling) against Rs 102.25 and Rs 102.50 of Thursday. The greenback lost its worth and was closed at Rs 101.50 and Rs 101.85 on buying and selling counters, respectively.
Likewise, the British pound depreciated its worth against the local currency. The pound was purchased and sold at Rs 158.65 and Rs 159.50 against Rs 160 and Rs 160.25 of Thursday.