In the open market, the rupee managed to hold the previous levels in terms of the US currency for buying and selling at 94.65 and 94.85, the rupee fell sharply by Rs 1.20 against euro for buying and selling at Rs 116.00 and Rs 117.00.
Range-bound trading was witnessed on the currency market as the rupee managed to retain its overnight levels in relation to dollar. The dollars were in demand by the people going to perform Umra or parents and teachers going abroad to spend their summer holidays.
In the meantime, the dollars supply may ease in the coming days and may give a boost to the foreign exchange reserves, dropping to 14.772 billion dollars.
INTER-BANK MARKET RATES: On Monday, the rupee-dollar parity was not issued due to bank holiday on account of Zakat reduction.
On Tuesday the rupee drifted lower against dollar, shedding nine paisa for bid at 94.53 and dropped eight paisa for offer at 94.56.
On Wednesday the local currency shed two paisa against dollar for bid and offer at 94.55 and 94.60.
On Thursday the rupee remained flat against dollar for bid and offer at 94.55 and Rs94.60. On Friday, for the third day, the rupee held the overnight levels against ollar in process of subdued business.
OPEN MARKET RATES: On July 23 the rupee showed no change in terms of dollar for buying and selling at 94.65 and 94.85. The rupee stayed put versus euro for buying and selling at Rs114.80 and Rs 115.80.
On July 24 the rupee also adopted the same pattern in relation to dollar, falling 15 paisa for buying and selling at 94.80 and 95.00. The rupee moved up slightly versus euro, gaining 20 paisa for buying and selling at Rs114.60 and Rs 115.60.
On July 25 the rupee, however, gained five paisa in relation to dollar for buying and selling at 94.70 and 94.90. The rupee moved up slightly versus euro, gaining 30 paisa for buying and selling at Rs114.30 and Rs 115.30.
On July 26 the rupee also showed no change in relation to dollar for buying and selling at 94.70 and 94.90. While, the local currency slid against euro, losing 40 paisa for buying and selling at Rs114.70 and Rs115.70.
On July 27 the rupee retained the overnight levels in terms of dollar for buying and selling at 94.70 and 94.90. The local currency continued slide versus euro, shedding 90 paisa for buying and selling at Rs115.60 and Rs116.60.
On July 28 the rupee posted gain of five paisa in terms of dollar for buying and selling at 94.65 and 94.85. The local currency, however, lost 40 paisa versus the euro for buying and selling at Rs116.00 and Rs117.00.
OVERSEAS OUTLOOK FOR DOLLARS: In the first Asian trade euro slid one percent against yen, hitting its lowest level in more than 11-1/2 years on Monday, pressured by fears that Spain may eventually need a full sovereign bailout.
The lack of confidence kept Spanish bond's yields hovering near the highest levels since euro was created, despite euro zone finance ministers approving on Friday terms for a loan of up to 100 billion euros for Madrid to recapitalise its banks. The dollar was trading against the Indian rupee at Rs 55.85, versus the Malaysian ringgit dollar was at 3.1715 and against the Chinese yuan the greenback was at 6.3883. Inter bank buy/sell rates for taka against dollar on Monday: 81.7300-81.7650 (previous 81.75-81.75) Call Money Rates: 05.00-10.00 percent (previous 05.00-10.00 percent).
In the second Asian trade euro steadied against yen and the US dollar, as investors' risk appetite perked up after data showed signs of improvement in China's manufacturing output.
China's manufacturing output in July grew at its fastest pace in nine months which offered some relief amid mounting worries that Spain, the euro zone's fourth-largest economy, may need to seek a bailout. The dollar was trading against the Indian rupee at Rs 55.99, the greenback was at 3.1750 versus the Malaysian ringgit and the US currency was trading in terms of the Chinese yuan at 6.3873.
Inter bank buy/sell rates for taka against dollar on Tuesday: 81.71-81.73 (previous 81.73-81.7650). Call Money Rates: 05.00-10.00 percent (previous 05.00-10.00 percent).
In the third Asian session euro hovered near two-year lows on Wednesday in Asia as investors gave it and risk currencies a wide berth after a sell-off in global stocks amid mounting fears that debt-ridden Spain will need a bailout.
Spiking Spanish borrowing costs are fuelling fears for the region's stability, and European Union officials said Greece had little hope of meeting the terms of its bailout. Inter bank buy/sell rates for taka against dollar on Wednesday: 81.70-81.7010(previous 81.71-81.73) Call Money Rates: 8.25-10.00 percent (previous 05.00-10.00 percent). The dollar was available against the Indian rupee at Rs 56.34, the greenback was trading versus the Malaysian ringgit at 3.1815 and the US currency was at 6.3907 in terms of the Chinese yuan.
In the fourth Asian trade euro gave back some gains on Thursday from a short-covering rally the previous day, as persistent worries about Spain's debt woes cloud the outlook for the single currency.
The euro eased 0.1 percent to $1.2146, but stayed above a two-year low of $1.2042 hit on trading platform EBS earlier this week.
The daily Ichimoku chart, a popular technical analysis tool, shows resistance for euro near $1.2184, which is where the Ichimoku chart's tenkan line now lies.
Inter bank buy/sell rates for taka against dollar on Thursday: 81.70-81.7125 (previous 81.70-81.7010). Call Money Rates: 08.25-09.25 percent (previous 08.50-10.00 percent). The dollar was trading against the Indian rupee at Rs 55.94, versus the Malaysian ringgit dollar was at 3.1630 and the greenback was available in terms of the Chinese yuan at 6.385.
In the final Asian trade euro steadied after rallying on European Central Bank (ECB) chief Mario Draghi's vow to hold the euro zone together, as investors prepared for US second-quarter gross domestic product data later in the session.
The euro traded at $1.2294, down from a two-week high of $1.2330 hit overnight but well above a two-year low of $1.2042 marked on trading platform EBS earlier this week. The next upside target is $1.2395-$1.2407, which is 50 percent retracement of the decline from 1.2748 on June 18 to this week's low.
The dollar was trading versus the Indian rupee at Rs 55.94, the greenback was available against the Malaysian ringgit at 3.1630 and the greenback was trading versus the Chinese yuan at 6.3850.
At the weekend euro rose to a three-week high against US dollar in volatile trade on Friday on speculation the European Central Bank may take further action to contain a spreading debt crisis, but a lack of details capped gains.
The euro rose to a session high after Bloomberg reported that ECB President Mario Draghi would meet with the head of Germany's Bundesbank, Jens Weidmann, to discuss several measures, including bond purchases, to stem the euro zone debt crisis. Weidmann is a member of the ECB Governing Council.