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The rupee maintained firm trend against the dollar on the money market during the week, ended on June 18, 2017. The rupee fell slightly versus the dollar for buying and selling at Rs 104.88 and Rs 104.89.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee maintained last levels in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee picked up 60 paisas in relation to the euro for buying and selling at Rs 118.00 and Rs 119.00.

Market-men said that the rupee fluctuated slightly versus the dollar due to balanced demand and supply of US currency. As a result of strong supply of dollars, the rupee may not depict sharp changes against the greenback, they said.

OPEN MARKET RATES: On Monday, the rupee held overnight levels against the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said. The rupee shed 30 paisas against the euro for buying and selling at Rs 118.60 and 119.60.

On Tuesday, the rupee held overnight levels against the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said. The rupee gained 10 paisas against the euro for buying and selling at Rs 118.50 and 119.50. On Wednesday, the rupee was unmoved versus the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee showed little changes in terms of the euro for buying and selling at Rs 118.25 and 119.50.

On Thursday, the rupee did not move any side against the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee gained sharply in terms of the euro for buying and selling at Rs 118.00 and 119.00. On Friday, the rupee managed to hold present levels in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee picked up 20 paisas in terms of the euro for buying at Rs 117.80 and it did not show any change for selling at Rs 119.00.

INTERBANK MARKET RATES: On June 12, the rupee shed one paisa against the dollar for buying and selling at Rs 104.86 and Rs 104.87. On June 13, the rupee slipped by one paisa against the dollar for buying and selling at Rs 104.87 and Rs 104.88. On June 14, the rupee was unchanged against the dollar for buying and selling at Rs 104.87 and Rs 104.88. On June 15, the rupee firmly held it's present levels versus the dollar for buying and selling at Rs 104.87 and Rs 104.88. On June 16, the rupee shed one paisa versus the dollar for buying and selling at Rs 104.88 and Rs 104.89.

OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, Sterling steadied as British Prime Minister Theresa May scrambled to pick up the pieces and reunite her Conservative Party after a disastrous election that could disrupt Brexit negotiations. Sterling last traded at $1.2743, little changed on the day, after sliding 1.7 percent on Friday, its biggest one-day drop in about eight months. The dollar was trading against the Indian rupee at Rs 64.320 and the greenback was at 6.797 in terms of the Malaysian ringgit

Inter bank buy/sell rates for the taka against the dollar on Monday: 80.58-80.60 (previous 80.60-80.60). In the second Asian trade, the dollar held steady against a basket of currencies, with the focus on the US Federal Reserve's two-day policy meeting, while the Canadian dollar rose after its central bank hinted interest rates could rise sooner than anticipated.

The dollar index, which tracks the greenback against a basket of six major rivals, last traded at 97.245, staying above a seven-month low of 96.511 set last week. The greenback was trading against the Indian rupee at Rs 64.435, the US currency was at 4.260 in terms of the Malaysian ringgit and the dollar was at 6.797 in relation to the Chinese yuan.

Inter bank buy/sell rates for the taka against the dollar on Tuesday: 80.60-80.60 (previous 80.60-80.60). In the third Asian trade, the dollar drifted in recent ranges in the calm before a forecast Federal Reserve storm, as investors awaited signals later in the global session on the Fed's policy outlook.

The dollar index, which tracks the greenback against a basket of six major rivals, was flat at 97.007. Against the yen, the dollar was steady on the day at 110.11, while the euro was also unchanged at $1.1210. Economists polled by Reuters overwhelmingly see the US central bank hiking its benchmark rate to a target range of 1.00 to 1.25 percent this week, though expectations for further rate increases are fading. What emerges from the Fed.

In the fourth Asian trade, the dollar nursed losses, after weak US inflation data left investors wondering if the Federal Reserve would be able to follow up its latest rate hike with another later this year. On Wednesday, a prominent Republican was among those shot by a gunman said to be angry with Trump. The dollar index, which tracks the US currency against a basket of six rivals, was slightly lower on the day at 96.915 though above its overnight low of 96.323 plumbed after downbeat economic figures.

The Fed raised interest rates a quarter percentage point to a target range of 1.00 percent to 1.25 percent, as expected, and gave its first clear outline on its plan to reduce its $4.2-trillion bond portfolio. But the moves were overshadowed by inflation and retail sales data earlier in the day that fell short of market expectations. The core rate of inflation increased at just 1.7 percent on year, the fourth straight monthly deceleration and the slowest overall pace in two years.

The dollar was trading against the Indian rupee at Rs 64.280, the greenback was at 4.253 in terms of the Malaysian ringgit and the US currency was at 6.794 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday .80.57-80.60 (previous 80.58-80.60). In the final Asian trade, the dollar stood tall, on track for weekly gains against a currency basket, after upbeat US economic data gave investors reason to hope the US central bank will stick with its plan to hike rates.

The dollar index, which tracks the greenback against six major peers, added 0.1 percent to 97.491, and was up 0.6 percent for the week. The dollar rose 0.2 percent to 111.18 yen, on track to gain 1.1 percent for the week. It ticked up to a session high of 111.27 yen, its highest since June 2, after the Bank of Japan kept monetary policy steady as expected, before quickly paring its gain.

The BOJ also upgraded its assessment of private consumption and overseas growth, signalling its confidence that an export-driven economic recovery was broadening and gaining momentum. The dollar was trading against the Indian rupee at Rs 64.720, the greenback was at 4.277 in terms of the Malaysian ringgit and the US currency was at 6.815 versus the Chinese yuan.

At the week-end, the dollar fell broadly after weaker-than-forecast data on housing and consumer sentiment cast a risk-off sentiment over US assets. The greenback gave back most of the previous day's gains, easing toward levels from earlier this week that were the lowest since November. Disappointing economic readings and the lack of progress on fiscal stimulus from Washington have overshadowed the likelihood of more rate hikes from the Federal Reserve.



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