Firmness prevailed on the money market on Friday as the rupee resisted slide versus the dollar, whereas the local currency fell sharply against the euro in process of trading, experts said. The rupee did not show major changes versus the dollar for buying and selling at Rs 110.56 and Rs 110.58 respectively, they said.
The dollar index against a basket of six major currencies fell 0.1 percent to 90.223. The index had already shed 0.4 percent overnight, peeled away from a high of 90.932-its strongest since Jan 19-after Trump announced on Thursday he would impose steep tariffs on imported steel and aluminium.
The US currency was trading against the Malaysian ringgit at 3.915 and the dollar was available at 6.351 in terms of the Chinese yuan.
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Open Bid Rs.111.90
Open Offer Rs.112.20
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Bid Rate Rs.110.56
Offer Rate Rs.110.58
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According to currency dealers, the greenback resumed trading on a positive note following fresh buyers' interest in the market. As a result, it appreciated by 10 paisas and ended higher at Rs 111.90 and Rs 112.20 for buying and selling, respectively, as compared to the overnight closing trend of Rs 111.80 and Rs 112.20 respectively, they added.
Moreover, the national currency moved both ways in terms of trading against the pound sterling. The British currency was bought and sold at Rs 153.30 and Rs 154.10 against Rs 153.10 and Rs 154.90 of Thursday, they said.
The dollar opened at Rs 111.70 (buying) and Rs 111.80 (selling) against same last rate. It closed at Rs 111.70 (buying) and Rs 111.80 (selling).