THE RUPEE: little gains

06 Sep, 2015

The rupee improved with marginal gains against the dollar on the money market on Saturday, dealers said. The rupee picked up five-paisa in relation to the dollar for buying and selling at Rs 104.45 and Rs 104.65 respectively, while the rupee did not show any variations in terms of the euro for buying and selling at Rs 116.00 and Rs 117.00 respectively, they said.
In a report many analysts had seen as key for Fed policymakers, the government said non-farm payrolls increased 173,000 last month as the manufacturing sector lost the most jobs since July 2013. That marked a slowdown from July's upwardly revised gain of 245,000 and was the smallest rise in employment in five months. However, it might have been weighed down by a statistical fluke that has led to sharp upward revisions to August payroll figures.



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Open Bid Rs 104.45
Open Offer Rs 104.65
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According to currency dealers, the dollar resumed trading at overnight closing rates of Rs 104.70 and Rs 104.95 on buying and selling counters, respectively. Due to lacklustre condition at the local kerb, the greenback lost its worth by 05-paisa and it was closed at Rs 104.65 and Rs 104.90 on buying and selling counters, respectively.
Likewise, the local currency appreciated its worth against the British Pound, which was purchased and sold at Rs 158.15 and Rs 159.10 as against Rs 158.80 and Rs 159.40 on Friday, the dealers said.
The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling).
Pound Sterling opened at Rs 161 (buying) and Rs 161.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 161 (buying) and Rs 161.50 (selling).

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