No hectic trading was witnessed in the local currency market last week and the rupee managed to post weekly gains against the dollar and the euro.

Some analysts attributed the relative calm in the market last week to the near-absence of major currency players, amid thin dollar demand.

The rupee commenced the week in the interbank market with losses of 10-paisa on the buying counter and 13-paisa on the selling counter, as the dollar ended the first trading session at Rs105.60 and Rs105.65, against the prior week’s close of Rs105.50 and Rs105.52.

No trading took place on Tuesday on account of a public holiday for Eid Milad-un-Nabi (pbuh). On Wednesday, the rupee managed to gain 17-paisa on the buying counter and 20-paisa on the selling counter against the dollar, which ended the day at Rs105.43 and Rs105.45.

But the rupee shed five-paisa in the next trading session, as the greenback ended the day at Rs105.48 and Rs105.50.

But the rupee managed to pick up 10-paisa on the buying counter and eight-paisa on the selling counter in the last trading session, as the dollar closed the week at Rs105.38 and Rs105.42. The local currency appreciated by 12-paisa against the dollar on the buying counter and by 10-paisa on the selling counter last week.

But the rupee has depreciated by 0.07 per cent against the dollar in the interbank market so far this year.

Lack of interest was observed during the week in the open market, amid ample dollar supply. The rupee traded unchanged at the prior week’s close of Rs106.30 and Rs106.50 in the first three days of last week.

The local currency then picked up five-paisa on the buying counter and remained unchanged on the selling counter on January 16, as the dollar closed the day at Rs106.25 and Rs106.50.

The rupee gained another five-paisa on the buying counter and 10-paisa on the selling counter in the last trading session, as the dollar closed the week at Rs106.20 and Rs106.40. The greenback depreciated by 0.1 per cent against the rupee in the open market last week. But the rupee has shed one per cent against the dollar in the open market since January 1.

The rupee managed to gain against the euro on a weekly basis, amid some mild fluctuations. It started the week with a 40-paisa loss against the common currency, which ended the first trading session at Rs146.00 and Rs146.25, against the prior week’s close of Rs145.60 and Rs145.85

When trading resumed on January 15, the rupee managed to gain 25-paisa, as the single currency ended the day at Rs145.75 and Rs146.00. The rupee rose by another 25-paisa against the euro, which ended the day at Rs145.40 and Rs145.65.

The rupee posted another gain of 40-paisa against the euro in the last trading session, as the common currency closed the week at Rs145.00 and Rs145.25. The rupee appreciated by 0.4 per cent against the common currency last week.