The rupee managed to recover modestly against the dollar on the money market on Monday in the process of trading, dealers said. The rupee recovered 10-paisa in terms of the dollar for buying and selling at Rs 104.33 and Rs 104.38 respectively, they said.
In the first Asian trade, the dollar inched lower with investors sticking to the sidelines as the countdown begins on whether the Federal Reserve will hike interest rates for the first time in nearly a decade. The euro edged up 0.1 percent to $1.1350, holding on to last week's 1.8 percent gain. The dollar eased 0.1 percent to 120.42 yen against a basket of six major currencies. The dollar was trading against the Indian rupee at Rs 66.37, the greenback was at 4.3150 in terms of the Malaysian ringgit and the US currency was at 6.370 in terms of the Chinese yuan.
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Open Bid Rs.104.40
Open Offer Rs.104.60
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Bid Rate Rs.104.33
Offer Rate Rs.104.38
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Currency dealers said the dollar resumed trading at Rs 104.60 and Rs 104.85 on buying and selling counters, respectively, as against Rs 104.65 and Rs 104.90 on Saturday. In the wake of abundance supply of greenback at the local kerb, the dollar was closed lower at Rs 104.40 and Rs 104.70 on the buying and selling sides, respectively.
Likewise, the British Pound was purchased and sold at Rs 159.60 and Rs 160.30 as against Rs 160 and Rs 160.80 on Saturday, 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).