THE RUPEE: rates slip on interbank market

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Weekly Updates - Rupee in a flash

The dollar drifted lower against the rupee on the money market on Friday in the process of trading, dealers said. The rupee extended its slide versus the dollar for buying at Rs 98.43 and it also fell by two paisa for selling at Rs 98.45, they added.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee depicted firmness in relation to the dollar for buying and selling at Rs 98.85 and Rs 99.10, they said. The rupee, for the second in a row, did not move any side against the euro for buying and selling at Rs 126.00 and Rs 126.25, they added.

In the final Asian trade, the euro hovered near a four-month lows on worries that losses suffered by Cypriot depositors may unnerve investors in other euro zone debt and on Italian political woes, but market participants also said the single currency seems to have found a bottom for now.

Trade was, however, subdued with many markets closed for Easter holidays, and there was limited reaction to North Korea putting its missile units on standby to attack US military bases in South Korea and the Pacific.

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