The rupee showed stable trend against the dollar on the money on Saturday in the process of trading activity, dealers said. The rupee depicted no change against the dollar for buying and selling at Rs 118.00 and Rs 118.50 respectively, they said. The rupee gained 50 paisas in terms of the euro for buying and selling at Rs 137.75 and Rs 139.25 respectively, they said.
Despite Friday's gains, the dollar posted its largest weekly drop since late March.
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Open Bid Rs.118.00
Open Offer Rs.118.50
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According to currency dealers, the US dollar resumed trading on a negative note and remained under pressure throughout the trading session. Accordingly, the dollar ended for buying and selling at Rs 118.00 and Rs 118.70 as compared to the overnight closing trend of Rs 118.35 and Rs 118.80 respectively, they added.
Likewise, the national currency also followed the same suit in terms of trading against the pound sterling. Consequently, the pound's buying and selling rates slid from Friday's closing of Rs 157.40 and Rs 158.20 to Rs 156.70 and Rs 158.00 respectively, they said.
The dollar opened at Rs118.30 (buying) and Rs 118.40(selling) against last rate of Rs118.20 (buying) and Rs 118.30(selling). It closed at Rs118.30 (buying) and Rs 118.40(selling).