Slight recovery on rupee

The rupee improved versus the dollar on the currency market during the week, ended on December 28, 2013. In the inter-market, the rupee gained 63 in relation to the dollar Recorder here on Sunday that a for buying at Rs 105.52 and Rs 105.55.

In the open market, the rupee gained 40 paisa against the dollar for buying and selling at Rs 105.20 and Rs 105.40, the national currency, however, slipped by 25 paisa versus the euro for buying and selling at rs 144.50 and Rs 144.75.

The rupee depicted no variation against the dollar for buying and selling at Rs 106.15 and Rs 106.18. On Tuesday, the rupee picked up 60 paisa in terms of the dollar for buying and selling at Rs 105.55 and Rs 105.60. On Wednesday, market was closed due to birth anniversary of Quaid-e-Aaam Mohammad Ali Jinnah. On Thursday, the rupee picked up 13 paisa in relation to the dollar for buying at Rs 105.40 and it also gained 18 paisa for selling at Rs 105.42. On Friday, the rupee surrenders some gains in relation to the dollar, losing 12 paisa for buying at Rs 105.52 and it also lost 13 paisa for selling at Rs 105.55.

In first Asian trade, the US dollar, euro and yen barely budged in the absence of fresh impetus as a holiday in Japan dampened liquidity in a market already wading through thin year-end conditions. The dollar bought 104.05 yen, drifting in a slim 103.92-104.08 range after easing back from a five-year peak of 104.64 scaled on Friday.

The dollar was trading against the Indian rupee at Rs 61.94, greenback was at 3.2935 in terms of the Malaysian ringgit and the US currency was at 6.0713 versus Chinese yuan.

The dollar was broadly weaker against European currencies, including sterling and the Swiss franc. Thin liquidity likely helped exaggerate market moves.