IN the local currency market, currency dealers observed mixed trading in rupee/dollar parity this week. Traders observed thin trading in the open market but showed lack of interest in the inter-bank market.

The rupee mostly showed positive trend against dollar in the inter-bank dealings while in the open market, the parity fluctuated in narrow ranges.

Against euro, however, the rupee showed a falling trend during the week in review. The rupee hit almost 13-month low versus euro this week.

Currently the market appears unpredictable. The rupee commenced the week on a negative note against the dollar on the inter-bank market where it posted four paisa loss on the buying counter and six paisa loss on the selling counter in the first trading session, pushing dollar slightly higher at Rs94.68 and Rs94.72, against previous week close of Rs94.64 Rs94.66.

In the second trading session, however, the rupee recovered eight paisa on the buying counter and another seven paisa on the selling counter, changing hands versus dollar at Rs94.60 and Rs94.65.

The rupee further extended its overnight firmness against the dollar for the second straight buying counter and five paisa on the selling counter, to trade at Rs94.56 and Rs94.60.

Upward rising trend in the rupee/dollar parity persisted for the third day as the rupee extended its firmness against the dollar by posting six paisa gain on the buying counter and seven paisa gain on the selling counter day in the third trading session.

It drifted higher against the dollar, rising four paisa on the in the fourth trading session. The dollar slipped to Rs94.54 and Rs94.58 at the close of the day.

Finally the week ended on a stable note as the rupee traded almost flat against the dollar at Rs94.54 and Rs94.57 in the last trading session, registering overall gain of ten paisa during the week.

In the open market, the rupee showed a fluctuating trend against the dollar this week.

The week opened on a positive note with the rupee gaining five-paisa against the dollar in the first trading session, changing hands at Rs94.65 and Rs94.85 against last week close of Rs94.70 and Rs94.90.

But in the second trading session, the rupee/dollar parity reverted to the weekend’s level after the rupee suffered five paisa decline and pushed dollar at Rs94.70 and Rs94.90.

The rupee rebounded in the third trading session as it picked up five paisa and traded at Rs94.65 and Rs94.85 against the dollar.

The parity traded unchanged at Rs94.65 and Rs94.85 in the fourth trading session.

The rupee managed to recover five paisa in the last trading session. It closed the week against the dollar at Rs94.60 and Rs94.80, up 10 paisa over the previous week close.

Versus the European single common currency, the rupee assumed a falling trend this week.

It commenced the week on a stable note as it traded unchanged, retaining previous weekend’s level against euro at Rs120.40 and Rs121.40 in the first trading session.

In the second trading session, the rupee drifted lower and traded at Rs120.50 and Rs121.50 after posting ten paisa declineagainst euro.

The rupee extended its overnight weakness in the third trading session, sharply shedding 90 paisa at Rs121.40 and Rs122.40. It retained its overnight level in the fourth trading session, trading unchanged at Rs121.40 and Rs122.40 against euro.

The rupee closed the week on a dismal note as it drifted lower sharply in the last trading session, slipping by Rs1.40 to hit 13-month low at Rs122.80 and Rs123.80. The rupee depreciated by Rs2.80 against euro this week.

On the international front, the euro dropped against the dollar for the first time in four days in the New York first trading session and last traded down 0.4 per cent at $1.2758, below last weekend’s peak of $1.2817, which was its highest level since May.

Against the yen, the dollar last traded up 0.1 per cent at 78.28 yen, just above a one-month low of 78.00 yen hit on September 7. Sterling slipped from a four-month high against the dollar in London, down 0.1 per cent at $1.5992, retreating from a four-month high $1.6035 struck last week.

On September 11, the dollar fell against most major currencies.

The euro last traded at $1.2858, up 0.8 per cent on the day, after earlier hitting a peak of $1.2871, its highest since May 14. It has recovered strongly since hitting a two-year low of $1.2042 in late July.

The greenback last traded down 0.7 per cent at 77.74 yen, lowest in more than three months.

Sterling rose to a four-month high against a broadly weaker dollar in London, up 0.4 per cent to a high of $1.6049.

On September 12, the euro rose to a four-month peak against the dollar, climbing to $1.2936, its highest since mid-May and last traded at $1.2894, up 0.3percent. In September, the euro has gained in six out of eight sessions rising more than seven percent since it hit a two-year low of around $1.2040 in July.

Against the yen, the dollar traded up 0.1 per cent at 77.84 yen. Sterling hit a four-month peak against the dollar in London.

It climbed around 0.4 per cent on the day to a high of $1.6132. It was last up 0.1 per cent at $1.6085.

On September 13, the dollar fell broadly in choppy trade, hitting a seven-month low against the yen and a four-month trough versus the euro.

The euro initially tumbled to a session low of $1.2856 but later hit a high of $1.3001 and last traded at $1.2984, up 0.7 per cent on the day, its highest since May 9.

Against the yen, the dollar last traded at 77.48 yen, down 0.4 per cent on the day, after hitting a low of 77.11, the lowest since February 9.

Sterling in London held steady below a four-month peak against the dollar. It was flat on the day at $1.6105, not far from its four-month high of $1.6132.

At the close of the week on September 14, the dollar dropped against most currencies, hitting a more than four-month low versus the euro.

The euro hit a peak of $1.3168, its strongest level since early May. It was last at $1.3148, up 1.2 per cent. The dollar rose more than one per cent against the yen to 78.30 yen after hitting a seven-month low of 77.11 yen a day earlier.

Sterling rose to a four-month high against the dollar in London, rising more than half a per cent to $1.6251, its strongest since late April. It was last at $1.6226.