The rupee continued fall against the dollar on the currency market on Friday in the process of trading, money experts said. The rupee maintained its present levels against the dollar for buying and selling at Rs 115.60 and Rs 115.61 respectively, they said.
Still, uncertainties on issues ranging from US trade policies to North Korea and Syria kept many investors on hold, and the euro/dollar and the dollar/yen could see one of their narrowest weekly range in months.
Bank of England Governor Mark Carney dampened widespread expectations for an interest rate hike in May on Thursday, pointing out there were also "other meetings" this year.
Disappointing UK retail sales released earlier on Thursday also raised some doubts about the outlook for UK rate hikes. The British pound fell to a two-week low of $1.4069 on Thursday and last stood at $1.4074. Against the euro, it hit a three-week low of 0.87725 pound per euro and last stood at 0.8765.
The euro was little changed against the dollar at $1.2338, having dipped 0.24 percent the previous day but still hugging its well-worn range.
The dollar was trading against the Indian rupee at Rs 66.008, the greenback was at 3.890 in terms of the Malaysian ringgit and the US currency was available at 6.286 versus the Chinese yuan.
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Open Bid Rs.117.40
Open Offer Rs.117.70
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Bid Rate Rs.115.60
Offer Rate Rs.115.61
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According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session for another day which helped its further appreciation for buying and selling at Rs 117.50 and Rs 117.70 as compared to the overnight closing trend of Rs 117.30 and Rs 117.50 respectively.
On the contrary, the national currency showed strength as it recovered its earlier losses against the pound sterling. The pound's buying and selling rates slid from Thursday's closing of Rs 165.65 and Rs 166.40 to Rs 164.50 and Rs 165.30 respectively, they added.
The dollar opened at Rs 116.60 (buying) and Rs 116.70 (buying) against same overnight value. It closed at Rs 116.60 (buying) and Rs 116.70 (buying).