IN the absence of > market triggers amid sluggish demand for the dollar last week, the rupeedollar parity traded in a tight band, moving both ways in the interbank and the open market.

On the interbank market, the rupee retained its previous weekend levels for buying and selling and traded flat against the dollar at Rs110.54 and Rs110.55 on Monday. It, however, inched down by one paisa on Tuesday at Rs110.55 and Rs110.56 against the dollar.

On Wednesday, the rupee again turned positive. It managed to post ten-paisa gain on the buying counter while inching up by one paisa on the selling counter, while the dollar was seen changing hands at Rs110.45 and Rs110.55.

On Thursday, the rupee lost nine paisa on the buying counter but retained its overnight rate on the selling counter. The dollar traded at Rs110.54 and Rs110.55 due to dull market activity.

The dollar stayed rangebound as the rupee inched down by one paisa on Friday with dollar trading at Rs110.55 and Rs110.56.

On a week-on-week basis, the dollar managed to appre-ciate by one paisa against the rupee on the interbank market.

In January, the greenback appreciated by only 0.03 per cent against the rupee.

In the open market, the dollar continued to show strength against the rupee last week.

Commencing the week in minus, the rupee further shed ten paisa that sent dollar to fresh highs at Rs112.40 and Rs112.70 on Monday, down from the last closing at Rs112.30 and Rs112.60.

Retaining its overnight rate, the parity did not show any change on Tuesday as the rupee continued to trade flat at Rs112.40 and Rs112.70 for the second day in a row due to sluggish dollar demand.

On Wednesday, the rupee pared earlier losses owing to some relief in dollar demand and posted 40-paisa gain on the buying counter and 20-paisa gain on the selling counter, with the dollar chang-ing hands at Rs112.00 and Rs112.50. The rupee`s upward march persisted on Thursday as the dollar dropped, extending losses amid normal demand. The rupee traded low at Rs111.75 and Rs112.25.

The rupee moved both ways, staying range-bound against the dollar due to persistent sluggish activity on Friday.

It extended overnight weakness on the buying counter and further shed five paisa but managed to post 15-paisa gain on the selling counter.

The dollar was seen changing hands at Rs111.80 and Rs112.10. It, however, lost 50 paisa against the rupee in the open market on a weekly basis.

Against the euro, the rupee showed a steady trend last week.

The European currency managed to gain 20 paisa against the rupee on a weekon-week basis. •