THE rupee remained largely mixed against the dollar last week, as it continued to drop in the interbank market but held steady in the open market.
On the interbank market, the rupee commenced last week with a loss of seven paisas for buying and nine paisas for selling, as the dollar ended the first trading session at Rs101.20 and Rs101.24, against the prior week’s close of Rs101.13 and Rs101.15.
The local currency dropped by another 11 paisas for buying and nine paisas for selling in the second trading session, enabling the dollar to rise to Rs101.31 and Rs101.33. It shed a further 13 paisas for buying and 14 paisas for selling the third trading session, as the dollar ended the day at Rs101.44 and Rs101.47.
The rupee dipped by another two paisas in the fourth trading session, allowing the greenback to end the day up at Rs101.46 and Rs101.49.
The rupee moved both ways in the last trading session, going up by one-paisa up for buying and dropping by one-paisa for selling. As a result, the dollar closed the week at Rs101.45 and Rs101.50, up 32 paisas for buying and 35 paisas for selling on a weekly basis.
The rupee depreciated by around 35 paisas against the dollar in interbank dealings but appreciated by 10 paisas in the open market last week
In the open market, the rupee started the week by gaining 10 paisas, as the dollar slipped to Rs101.40 and Rs101.60 in the opening session, against the prior week’s close of Rs101.50 and Rs101.70. The rupee-dollar parity remained unchanged at this level in the second trading session.
In the third trading session, however, the dollar regained 10 paisas to end the day back at the prior week’s ending level of Rs101.50 and Rs101.70, amid a marginal rise in demand. The rupee-dollar parity then again stayed unchanged at this level in the fourth trading session.
In the fifth trading session, the rupee receded to the week’s opening position of Rs101.40 and Rs101.60 after gaining 10 paisas. On a week-over-week basis, the rupee appreciated by 10 paisas against the dollar.
Meanwhile, the rupee continued its downslide against the euro last week, after displaying some strength at the beginning. It commenced the week by gaining 10 paisas to close the first session at 114.50 and 114.75, against the prior week’s close of 114.60 and 114.85.
It picked up a further 50 paisas in the second trading session, as the euro dropped to Rs114.00 and Rs114.25.
In the third trading session, however, the euro bounced back, gaining 50 paisas and ended the day at Rs114.50 and Rs114.75. It gained another 50 paisas in the fourth trading session, rising to Rs115.00 and Rs115.25 at the end of the day.
The single currency rose by yet another 50 paisas in the last trading session and closed the week at Rs115.50 and Rs115.75. On a weekly basis, the euro appreciated by 90 paisas against the rupee.