THE RUPEE: mixed patterns

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The rupee moved both ways against the dollar on the currency market on Friday in the process of trading, dealers said. The rupee continued its fall against the dollar losing 30 paisa for buying at Rs 101.40 and it also lost 38 paisa for selling at Rs 101.50, dealers said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, managed to gain 50 paisa in relation to the dollar for buying and selling at Rs 103.80 and Rs 104.00, they said. The national currency dropped by 25 paisa against the euro for buying and selling at Rs 137.00 and Rs 137.25, they said.

In the final Asian trade, the dollar languished near one-month lows against a basket of major currencies on Friday, having suffered a setback overnight as traders were wary of the Federal Reserve turning more dovish at next week's policy meeting.

Setting the greenback on a slippery slope was a Wall Street Journal report that the Fed may debate changing its forward guidance to help hammer home its message that it will keep rates low for a long time to come, traders said. The dollar was trading against the Indian rupee at Rs 58.94, greenback was at 3.2070 in terms of the Malaysian ringgit and the US currency was at 6.1309 in relation to the Chinese yuan.


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Open Bid Rs 103.80

Open Offer Rs 104.00

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Courtesy: BR

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