The rupee remained stable against the dollar in the local currency market last week amid dull trading, as some analysts said major dealers remained on the sidelines.
The rupee began the week in the interbank market with a 12-paisa loss against the greenback in the first trading session, as the dollar climbed to Rs105.60 and Rs105.62, against the prior weekâs close of Rs105.48 and Rs105.50.
However, the local currency rebounded in the second trading session, as it picked up eight-paisa, pushing the dollar down to Rs105.52 and Rs105.54.
No trading took place on February 5 due to it being a public holiday on account of Kashmir Day.
When trading resumed on Thursday, the rupee gained another 12paisa, as the dollar ended the day at Rs105.40 and Rs105.42.
The local currency then picked up two-paisa in the last trading session, as the dollar closed the week at Rs105.38 and Rs105.40. The greenback shed a net 10-paisa against the rupee last week.
Meanwhile, the rupee/dollar parity remained unchanged at the prior weekâs close of Rs105.75 and Rs105.85 throughout last week.
The rupee showed a similar trend against the euro, amid some mild fluctuations. It commenced the week with a five-paisa loss, as the euro ended the first trading session at Rs144.40 and Rs144.65, against the prior weekâs close of Rs144.35 and Rs144.60.
But the rupee gained 60-paisa in the second trading session, as the common currency went down to Rs143.80 and Rs144.05. When trading resumed on February 6, the rupee picked up another 30-paisa, as the euro slipped to Rs143.50 and Rs143.75.
But the euro bounced back with a 30-paisa gain against the local currency to end the last trading session at Rs143.80 and Rs144.05.
However, the single currency was still down a net 55-paisa against the rupee last week.
On the international front last week, the dollar fell to a two-month low against the yen in the New Yorkâs opening session, shedding 1.1 per cent at 100.90 yen, but then advanced to 102.22 yen at the close of the week. The yen fell by around 1.3 per cent against the dollar last week.
Meanwhile, the European single currency fell in the opening session and last traded up 0.3 per cent at $1.3524, from an earlier low of $1.3475. It rose 0.66 per cent in the week to $1.36140.
Sterling was down 0.7 per cent against the dollar at $1.6327 in the opening session.
But it rose 0.11 per cent to $1.6345 at the close of the week, after hitting a seven-week low against the dollar on February 5 at $1.6252.
