THE RUPEE: rates slip

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Weekly Updates - Rupee in a flash

The rupee fell against the dollar on the interbank market on Friday, while the national currency held the overnight levels for the fourth day in a row on the open market, dealers said.

The rupee gave up overnight gains in relation to the dollar due to excessive forward buying, losing 11 paisa for buying at 98.16 and nine paisa for selling at 98.18, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee maintained overnight levels in terms of the dollar for buying and selling at 99.00 and 99.25, they said. While, the rupee maintained upward trend in terms of the euro, picking up 50 paisa for buying and selling at Rs 131.50 and Rs 131.75, they added.

In the final trade, the dollar dangled near a 5-1/2-month high against a basket of currencies, helped by doubts over just how long the US Federal Reserve will keep its quantitative easing in place.

The euro tumbled to a six-week low against the dollar on disappointing euro zone economic data and uncertainty ahead of Italy's election this weekend, though the common currency managed to hold above a key level. The dollar was trading against the Indian rupee at Rs 54.42, the greenback was available at 3.0985 versus the Malaysian ringgit and the US currency was at 6.235 in relation to the dollar.

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