The rupee fell modestly against the dollar on the money market on Friday in the process of trading, dealers said. The rupee shed two paisas in relation to the dollar for buying and selling at Rs 104.78 and Rs 104.80 respectively, they said.
The dollar index gained 0.1 percent to 101.230 following an overnight rise of nearly 1 percent. It was on track to gain 0.3 percent this week. The greenback was up 0.4 percent at 114.430 yen, coming within the reach of a 10-month high of 114.830 set last week. The yen's safe-haven appeal has diminished as Japan's Nikkei hit a one-year peak as Wall Street reached a record high.
The dollar was trading against the Indian rupee at Rs 67.63, the greenback was at 4.4220 in terms of the Malaysian ringgit and the US currency was at 6.8996 versus the Chinese yuan.
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Open Bid Rs.107.20
Open Offer Rs.107.40
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Bid Rate Rs.104.78
Offer Rate Rs.104.80
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According to currency dealers, the trading of the US dollar resumed on a positive note amidst lack of buyers' interest in the market. At the close, the dollar ended higher at Rs 107.55 and Rs 107.90 on buying and selling sides, respectively, as compared to the Thursday's closing rates of Rs 107.20 and Rs 107.50, respectively, they added.
On the other hand, the local currency showed stability as it recovered its day earlier losses versus the pound sterling. The pound's buying and selling rates declined from the overnight closing rates of Rs 134.60 and Rs 135.50 to Rs 134.00 and Rs 135.00, respectively, they said.
The dollar resumed trading at Rs 107 (buying) and Rs 107.50 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 107 (buying) and Rs 107.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).