The rupee improved slightly versus the dollar on the money market on Friday in the process of trading, dealers said. The rupee shed one paisa in relation to the greenback for buying and selling at Rs 104.83 and Rs 104.84 respectively, they said.
The greenback was poised to end lower against a basket of currencies this week during which it gave up some of its recent robust gains. The dollar index sagged 0.2 percent to 100.86, and was down 0.6 percent for the week. The dollar index had hit a 13-1/2-year high of 102.05 last week, having rallied as US bond yields surged on expectations of higher fiscal spending and a faster pace of Fed monetary tightening under President-elect Donald Trump.
The dollar was trading against the Indian rupee at Rs 68.35, the greenback was at 4.4430 in terms of the Malaysian ringgit and the US currency was at 6.8839 versus the Chinese yuan.
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Open Bid Rs.107.40
Open Offer Rs.107.70
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Bid Rate Rs.104.83
Offer Rate Rs.104.84
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According to currency dealers, the greenback resumed trading on a depressed note and kept moving down amidst lacking of buyers' interest in the market. At the close, the greenback ended lower at Rs 106.80 and Rs 107.40 on buying and selling sides, respectively, as compared to day earlier closing rates of Rs 107.20 and Rs 108.20, respectively, they added.
On the other hand, the local currency remained under pressure for the third consecutive day as it further lost its worth by 10-paisa against the pound sterling. The pound's buying and selling rates further drifted from Thursday's closing rates of Rs 134.00 and Rs 135.00 to Rs 134.10 and Rs 135.10, respectively, the dealers said.
The dollar resumed trading at Rs 108 (buying) and Rs 108.10 (selling) against same overnight value. It did not observe further change in evening session and closed at Rs 108 (buying) and Rs 108.10 (selling).
Pound Sterling opened at Rs 136 (buying) and Rs 136.10 (selling). It did not observe further change in the second session and closed at Rs 136 (buying) and Rs 136.10 (selling).