Indian rupee continues upward rally against dollar, euro

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MUMBAI: The rupee continued its gain against the dollar and the euro in the local currency stocks previous week, conquering frights in worldwide stocks and commodity markets.
Nonetheless, a slowdown in trading activities was witnessed mid-week as the country reeled from the murderous assault on schoolchildren in Peshawar on December 16.
The rupee commenced the week on the interbank market with a gain of 27 paisas for buying and 29 paisas for selling, sending the dollar lower to Rs100.33 and Rs100.36 in the first trading session, from the prior week’s close of Rs100.60 and Rs100.65.
The rupee performed similarly in the open market, picking up 60 paisas to send the dollar down to Rs100.60 and Rs100.80 in the first trading session, from the prior week’s close of Rs101.20 and Rs101.40. The rupee also turned positive against the euro, gaining100 paisas on the day to send it at 124.75 and 125.00, against the previous week’s close of 125.75 and 126.00.
However, in the second trading session, the rupee shed 15 paisas for buying and 14 paisas for selling against the dollar in interbank dealings, pushing the greenback up at Rs100.48 and Rs100.50.
It went down 10 paisas in the open market as well, as the dollar rose to Rs100.70 and Rs100.90. The rupee also suffered a fall of 125 paisas against the euro, which rose to Rs126.00 and Rs126.25.