OPEN MARKET RATES:INTER-BANK MARKET RATES: On Friday, the rupee lost 35 paisas in terms of the dollar for buying and selling at Rs 140.23 and Rs 140.25, they said.
Commenting on the surging demand for dollars, some leading marketmen observed that demand for dollars increased in the inter-bank market, which caused dearth of dollars in the open market, dragged the rupee to face fresh erosion in it's value versus the US currency. They also attributed the rise in the value of dollar to asking demand to meet payment requirements.
INTER-BANK MARKET RATES: On Monday, the rupee fell by 12 paisas in terms of the dollar for buying and selling at Rs 139.39 and Rs 139.40.
On Tuesday, the rupee did not show any significant change in terms of the dollar for buying and selling at Rs 139.38 and Rs 139.40, they said. On Wednesday, the rupee shed five paisas in terms of the dollar for buying and selling at Rs 139.43 and Rs 139.45. On Thursday, the rupee shed five paisas in terms of the dollar for buying and selling at Rs 139.48 and Rs 139.50. On Friday, the rupee lost 35 paisas in terms of the dollar for buying and selling at Rs 140.23 and Rs 140.25, they said.
OPEN MARKET RATES: On March 18, the rupee continued fall versus the dollar, shedding 20 paisas for buying and selling at Rs 139.20 and Rs 139.70. The rupee was trading in relation to the euro for buying and selling at Rs 156.50 and at Rs 159.00.
On March 19, the rupee was unchanged versus the dollar for buying and selling at Rs 139.20 and Rs 139.70, they said. The rupee fell sharply in relation to the euro for buying and selling at Rs 157.40 and Rs 159.20, they said. On March 20, the rupee fell versus the dollar, losing 10 paisas for buying and selling at Rs 139.30 and Rs 139.80, they said. The rupee continued decline in relation to the euro, dropping further 10 paisas for buying and selling at Rs 157.50 and Rs 159.30, they said.
On March 21, the rupee dropped by 40 paisas in relation to the dollar for buying and selling at Rs 139.70 and Rs 140.20. The rupee also lost 80 paisas versus the euro for buying and selling at Rs 158.30 and Rs 160.10.
On March 22, the rupee fell by Rs 1.10 agianst the dollar for buying and selling at Rs 140.80 and Rs 141.30, they said. The rupee also lost 70 paisas versus the euro for buying and selling at Rs 159.00 and Rs 160.75.
OVERSEAS MARKET OUTLOOK: In the first Asian trade, the dollar licked its wounds on Monday after soft US data increased bets the Federal Reserve will cut rates later this year while the pound hovered near nine-months high on hopes for a delay in Britain's exit from the European Union.
The dollar's index against a basket of six major currencies stood at 96.564, having shed 0.81 percent last week, the biggest loss since late August. Weaker-than-forecast US economic data on Friday cemented expectations the Fed could strike a dovish stance this week, sending US bond yields down to 10-week lows.
US manufacturing output fell 0.4 percent in February, weakening for a second straight month, while factory activity in New York state was softer than expected this month with an index reading of 3.7.
The dollar was trading against the Indian rupee at Rs 68.870, the greenback was at 4.080 versus the Malaysian ringgit and the US currency was available at 6.713 in terms of the Chinese yuan. In the second Asian trade, the dollar was on the defensive on Tuesday, weighed by growing expectations the Federal Reserve would adopt a more accommodative policy outlook this week and concerns about slower US economic growth.
The dollar index, which measures the greenback against a basket of six major currencies, dipped 0.1 percent to 96.43, hovering close to a two-week low touched overnight.
The index has lost 1.3 percent after hitting a three-month high of 97.710 on March 7, on views the Fed will strike a dovish tone at its two-day policy meeting due to start later on Tuesday.
Many investors expect the Fed to keep its benchmark overnight interest rate unchanged and stick to its pledge of a "patient" approach to monetary policy. The dollar was trading against the Indian rupee at Rs 68.560, the greenback was at 4.074 in terms of the Malaysian ringgit and the US currency was available at 6.716 versus the Chinese yuan.
In the third Asian trade, the dollar was on the defensive on Tuesday, weighed by growing expectations the Federal Reserve would adopt a more accommodative policy outlook this week and concerns about slower US economic growth. The dollar index, which measures the greenback against a basket of six major currencies, dipped 0.1 percent to 96.43, hovering close to a two-week low touched overnight.
The index has lost 1.3 percent after hitting a three-month high of 97.710 on March 7, on views the Fed will strike a dovish tone at its two-day policy meeting due to start later on Tuesday.
Many investors expect the Fed to keep its benchmark overnight interest rate unchanged and stick to its pledge of a "patient" approach to monetary policy.
The dollar was trading against the Indian rupee at Rs 68.560, the greenback was at 68.53 versus the Malaysian ringgit and the US currency was at 6.716 in terms of the Chinese yuan.
In the fourth Asian trade, the dollar nursed losses in Asia on Thursday after the Federal Reserve roiled markets by abandoning all plans to raise rates this year, a signal its three-year campaign to normalise policy might be at an end.
Investors rushed to price in the prospect of rate cuts later this year, while benchmark Treasury yields dived to their lowest since early 2018.
The Fed's swerve sent the dollar sliding to 110.47 yen, with its 0.6 percent loss overnight the biggest drop since the flash crash of early January. The euro flew to a seven-week peak and was last trading at $1.1424, a world away from its recent low of $1.1177.
That left the dollar down at 95.908 against a basket of currencies, having lost 0.5 percent overnight. It was also poised precariously on its 200-day moving average, and a sustained break would be taken as technically bearish. The dollar was trading against the Malaysian ringgit at 4.058 and the greenback was available at 6.682 versus the Chinese yuan.
In the final Asian trade, the dollar eased against a basket of currencies on Friday while sterling gained slightly on news that Prime Minister Theresa May had bought a bit more time to resolve when and how Britain exits from the European Union.
Against a basket of six key rival currencies, the dollar slipped 0.2 percent to 96.314. The index had risen three-quarters of a percent in the previous session after falling to a more than six-week low on Wednesday after the Federal Reserve said it had abandoned plans to raise interest rates this year.
European Union leaders on Thursday gave May two weeks' reprieve, until April 12, before Britain could crash out of the bloc if lawmakers next week reject her Brexit plan for a third time.
If she wins the vote in parliament, May will have an extra two months, until May 22. Sterling rose a quarter of a percent to $1.3140. It had retraced sharp losses overnight, when it touched as low as $1.3004. The dollar was trading against the Indian rupee at Rs 68.610, the greenback was at 4.058 in terms of the Malaysian ringgit and the US currency was available at 6.704 versus the Chinese yuan.