Steadier trend was again witnessed on the money market on Friday as the rupee held present firmness versus the dollar in the process of trading, dealers said. The rupee inched up by one paisa in relation to the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
In the final Asian session, the dollar edged up, poised for weekly gains after solid US economic data contrasted with cooling euro zone inflation, though it was set to book losses in the first quarter amid concerns about the direction of US President Donald Trump's policies.
The dollar index, which tracks the US currency against a basket of six major rivals, was up 0.2 percent at 100.59, up 1 percent for the week and within a hair of a two-week high of 100.60 hit overnight. It was down 1.6 percent for the first quarter, and 0.5 for the month. The euro nursed losses, flat on the day at $1.0675 and down 1.1 percent for the week. It was up 0.9 percent for March and 1.5 percent for the quarter.
German and Spanish consumer price data released on Thursday showed inflation slowed more sharply than expected in March as oil prices slumped, offering some respite to the European Central Bank as it faces pressure to wind down its monetary stimulus. The dollar was trading against the Indian rupee at Rs 64.84, the US currency was at 4.4240 versus the Malaysian ringgit and the greenback was at in relation to the 6.8973 Chinese yuan.
========================
Open Bid Rs.106.20
Open Offer Rs.106.40
========================
========================
Bid Rate Rs.104.84
Offer Rate Rs.104.85
========================
According to the currency dealer, the US dollar commenced trading on its overnight closing trend of Rs 106.20 and Rs 106.60 as its buying and selling rates, respectively.
At the close, it registered appreciation and ended higher at Rs 106.30 on buying counter.
However, it failed to sustain and slid to Rs 106.50 on selling counter, respectively, they added.
Furthermore, the local currency remained under pressure on buying side while it stayed unchanged on selling side against the pound sterling. The British currency was bought and sold at Rs 131.65 and Rs 132.50 against Thursday's closing rates of Rs 131.40 and Rs 132.50 respectively, they said.
The dollar opened at Rs 106.50 (buying) and Rs 107 (selling). It closed at the same rate.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.