THE RUPEE: steadier trend

08 Feb, 2015

The rupee held the overnight levels versus the dollar on the local currency market on Saturday in the process of trading, dealers said. The rupee showed no change for the third day in terms of the dollar for buying and selling at Rs 101.50 and Rs 101.70 respectively, they said.
The US Labour Department said non-farm payrolls increased by 257,000 last month, beating economists' expectations for a rise of 234,000 jobs according to a Reuters poll, while data for November and December was revised to show a whopping 147,000 more jobs created than previously reported.



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Open Bid Rs 101.50
Open Offer Rs 101.70
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According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 101.60 and Rs 101.85 as its buying and selling rate, respectively.
The dollar did not observe any change in its demand and supply situation during the day. As a result, the dollar's opening rate continued to prevail till close of trading, the dealers said.
On the contrary, the rupee failed to maintain its position and remained under pressure against the pound sterling.
The pound's buying and selling rate was improved from Friday closing of Rs 153.50 and Rs 153.75 to Rs 154.25 and Rs 154.50, respectively, they added.
The dollar opened at Rs 100.75 (buying) and Rs 101 (selling) against last rate of Rs 101 (buying) and Rs 101.25 (selling). It did not observe further change in the second session and closed at Rs 100.75 (buying) and Rs 101 (selling).
Pound Sterling opened at Rs 152 (buying) and Rs 153 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 152 (buying) and Rs 153 (selling).

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