WEB DESK: The rupee crossed barriers of 106 marks against the dollar on the money market on Wednesday, dealers said.
The rupee gained seven paisas in relation to the dollar for buying and selling at Rs 104.76 and Rs 104.78 respectively, they said.
INTERBANK MARKET RATES: In the third Asian trade, most emerging Asian currencies gained on Wednesday as the dollar retreated from a near nine-month peak, while regional units struggled to sustain the momentum due to growing expectations of a US Federal Reserve interest rate hike in December.
The yuan rose after China’s central bank set its daily guidance rate higher, reflecting the greenback’s slide. The dollar was trading against the Indian rupee at Rs 66.80, the greenback was available at 4.1580 versus the Malaysian ringgit and US currency was at 6.7698 versus the Chinese yuan.
OPEN MARKET RATES: The rupee shed 10 paisas versus the dollar for buying and selling at Rs 105.80 and Rs 106.00 respectively, while it sustained overnight level in terms of the euro for buying and selling at Rs 115.30 Rs 116.80 respectively, they said.