INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee almost held the present levels in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee gained 20 paisas in terms of the euro for buying and selling at Rs 118.00 and Rs 119.00.
Commenting on the steadier trend in the value of the rupee, some experts said that easy supply of dollar, supported the national currency to hold the present levels. It is surprising to note that the rupee held it's levels versus the dollar in the absence of motivating factors, they observed. The country is facing a lot of uncertainties on the economic and political fronts, they said and adding that political instability in the country is main hurdle in the way of achieving the basic fundamental.
OPEN MARKET RATES: On Monday, the rupee held last levels in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee shed 20 paisas in terms of the euro for buying and selling at Rs 118.20 and Rs 119.25.
On Tuesday, the rupee held last levels in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee picked up 90 paisas in terms of the euro for buying and selling at Rs 117.30 and Rs 118.60. On Wednesday, the rupee picked up 10 paisas in relation to the dollar for buying and selling at Rs 105.80 and Rs 106.00. The rupee rose slight in terms of the euro for buying and selling at Rs 117.20 and Rs 118.20.
On Thursday, the rupee also lost 10 paisas in terms of the dollar for buying and selling Rs 105.90 and Rs 106.10. The rupee also fell against the euro, losing 30 paisas for buying and selling at Rs 117.50 and Rs 118.50. On Friday, the rupee maintained last levels in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee extended overnight slide in terms of the euro, losing 25 paisas for buying and selling at Rs 117.75 and Rs 118.75. On June 24, the rupee sustained overnight levels in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee continued fall in terms of the euro, losing 25 paisas for buying and selling at Rs 118.00 and Rs 119.00.
INTERBANK MARKET RATES: On June 19, the rupee inched up by one paisa versus the dollar for buying and selling at Rs 104.87 and Rs 104.88. On June 20, the rupee traded versus the dollar for buying and selling at Rs 104.89 and Rs 104.90. On June 21, the rupee traded versus the dollar for buying and selling at Rs 104.89 and Rs 104.90.
On June 22, the rupee gave up over night gains versus the dollar, shedding one paisa for buying and selling at Rs 104.86 and Rs 104.87. On June 23, the rupee shed one-paisa versus the dollar for buying and selling at Rs 104.87 and Rs 104.88.
OVERSEAS OUTLOOKK FOR DOOLAR: In the first Asian trade, the dollar steadied against a basket of currencies after slipping on soft US economic data, with investors awaiting comments by a top Federal Reserve official for clues on whether recent strength can be sustained.
The dollar index against a group of major currencies was flat at 97.187. The dollar was trading against the Indian rupee at Rs 64.355, the greenback was available at 4.267 in terms of the Malaysian ringgit and the US currency was at 6.812 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday. 80.56-80.60 (previous 80.56-80.60).
In the second Asian trade, the dollar reached a more than three-week high versus the yen, after an influential Federal Reserve official said US inflation should rise alongside wages, reinforcing expectations for the Fed to keep raising interest rates. The dollar was lifted on Monday when New York Fed President William Dudley said that tightening in the labour market should help drive up inflation.
The dollar was trading against the Indian rupee at Rs 64.425, the greenback was at 4.282 versus the Malaysian ringgit and the US currency was at 6.823 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday. 80.56-80.60 (previous 80.56-80.60).
In the third Asian trade, the dollar pulled back from one-month highs against a basket of currencies as tumbling oil prices pushed down US yields, while the pound wobbled after Bank of England Governor Mark Carney shot down hopes of an interest rate hike.
The dollar index against a group of major currencies was 0.05 percent lower at 97.699. The dollar was trading against the Indian rupee at Rs 64.630, the US currency was at 4.287 in terms of the Malaysian ringgit and the greenback was at 6.830 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday. 80.56-80.60 (previous 80.56-80.60 In the fourth Asian trade, the dollar eased versus the yen as a recent rally tied to bets on another US interest rate hike this year lost steam, while the New Zealand dollar rose after its central bank stopped short of aggressively trying to talk down the currency.
The US dollar eased 0.2 percent against the yen to 111.15, pulling away from a three-week high of 111.79 yen reached on Tuesday. "Risk aversion arising out of ongoing decline in oil prices is one of the factors explaining the move in dollar/yen," said Christopher Wong, senior FX strategist for Maybank in Singapore.
The dollar was little changed on Friday as traders marked time ahead of next week's US inflation-linked indicators, while commodity currencies such as the Canadian dollar held to gains after crude oil prices bounced. In the final Asian trade, the dollar index against a basket of major currencies was effectively flat at 97.492. The index peaked at a one-month high of 97.871 on Tuesday after the Federal Reserve hiked interest rates last week and left the door open for further monetary tightening later in the year. But it has been stuck in a tight range since, awaiting fresh catalysts.
The dollar was trading against the Indian rupee at Rs 64.523, the greenback was at 4.287 in terms of the Malaysian ringgit and the US currency was at 6.840 versus the Chinese yuan. At the week-end, the dollar fell against a basket of major currencies, recording its biggest one-day fall in three weeks, on persistent doubts whether the Federal Reserve would raise interest rates again this year due to softening inflation data.
The dollar index, which tracks the dollar against six major peers, fell 0.35 percent at 97.248, retreating further from a one-month peak reached on Tuesday. The euro was up 0.44 percent at $1.1198, while the greenback slipped nearly 0.1 percent against the yen, to 111.25 yen.
Copyright Business Recorder, 2017