Wednesday, September 20th, 2017
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The rupee managed to sustain present levels against the dollar during the shorthand week, ended on 31st August owing Eid-ul-Azha holidays. The rupee almost retained present levels in terms of the dollar for buying and selling at Rs 105.39 and Rs 105.40.

INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee appreciated by 30 paisas versus the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee also gained 80 paisas versus the euro for buying and selling at Rs 124.00 Rs 125.50. The rupee moved cautiously in terms of the dollar during the week due to easy supply of the greenback, money experts said.

It is most likely that the national currency may not fluctuate sharply versus the dollar in the coming days, they added.

INTERBANK MARKET RATE: On August 28, the rupee sustained it's overnight levels against the dollar for buying and selling at Rs 105.38 and Rs 105.40.

On August 29, the rupee gained seven paisas versus the dollar for buying and selling at 105.32 and Rs 105.34. On August 30, the rupee maintained rising trend in relation to the dollar, picking up four paisas for buying and selling at Rs 105.28 and Rs 105.31. On August 31, the rupee slid nine paisas in terms of the dollar for buying and selling at Rs 105.39 and Rs 105.40.

OPEN MARKET RATES: On Monday, the rupee rose by 40 paisas in terms of the dollar for buying and selling at Rs 106.10 and Rs 106.40. The rupee also picked up 40 paisas versus the euro for buying and selling at Rs 125.20 an0 Rs 126.70. On Tuesday, the rupee picked up 10 paisas versus the dollar for buying and selling at Rs 106.00 and Rs 106.20.

On Wednesday, the rupee sustained overnight firmness against the dollar, gaining 10 paisas for buying and selli9ng at Rs 105.90 and Rs 106.10, they said. The rupee also gained 85 paisas versus the euro for buying and selling at Rs 124.90 an Rs 126.40, they said.

On Thursday, the rupee did not budge any side in terms of the dollar for buying and selli9ng at Rs 105.90 and Rs 106.10. The rupee appreciated by 90 paisas versus the euro for buying and selling at Rs 124.00 Rs 125.50.

OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the euro extended gains to a 2-1/2-year high against the dollar after the European Central Bank president held back from talking down the currency and as markets worried about the impact of Tropical Storm Harvey on the US economy.

The euro was 0.1 percent higher at $1.1929 after rising to $1.1966, its highest since January 2015. The common currency had already surged about 1 percent on Friday after ECB President Mario Draghi spoke at the Jackson Hole conference on subjects such as global trade but did not touch upon the euro's recent strength.

The dollar was trading against the Indian rupee at Rs 63.90, the greenback was available versus the Malaysian ringgit at 4.265 and the US currency was trading at 6.643 in relation to the Chinese yuan.

In the second Asian trade, the dollar slumped to a four-month low against the yen early after North Korea fired a missile that passed over northern Japan, the latest act of provocation by Pyongyang that has ramped up tensions in the region over the past month. The dollar was down 0.55 percent at 108.660 yen after hitting 108.330, its lowest since April 18. A risk-averse mood prevailed in the region following the missile launch, with Japan's Nikkei falling to a four-month low.

The yen tends to benefit during times of geopolitical or financial stress as Japan is the world's biggest creditor nation and there is an assumption that Japanese investors will repatriate funds should a crisis materialize.

The dollar was trading against the Indian rupee at Rs 63.94, the greenback was available at 4.266 in terms of the Malaysian ringgit and the US currency was 6.609 versus the Chinese yuan.

Inter bank buy/sell rates for the taka against the dollar on Tuesday: 80.70-80.70 (previous 80.70-80.70).

In the third Asian trade, the dollar pulled away from the previous session's 4-1/2 month lows against the yen on Wednesday as investors' concerns over North Korea's latest missile test eased for now, while the Australian dollar surged on upbeat construction data.

The dollar index, which tracks the greenback's value against a basket of six major currencies, added 0.1 percent to 92.292, having recovered from Tuesday's low of 91.621, its lowest level since January 2015.

The dollar last traded at 109.77 yen, up from Tuesday's low of 108.265 yen, its lowest level since mid-April. The dollar/yen reacted yesterday, moving lower, and that seems to be reversing today, said Mitul Kotecha, head of Asia macro strategy for Barclays in Singapore.

The dollar was trading against the Indian rupee at Rs 63.95, the greenback was available at 4.269 in terms of Malaysian ringgit and the US currency was at 6.584 against the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 80.70-80.70 (previous 80.70-80.70).

In the fourth Asian trade, the dollar hit a two-week high versus the yen, extending its gains after strong US economic data bolstered expectations for a solid US jobs report later this week.

The dollar rose to 110.615 yen at one point, its strongest level since August 16. It last changed hands at 110.52 yen, up 0.3 percent from late US trade on Wednesday.

The greenback gained a lift after the US Commerce Department on Wednesday revised up gross domestic product to a 3.0 percent annual rate in the second quarter, the quickest in more than two years. In addition, the ADP National Employment Report showed US private-sector employers hired 237,000 workers in August for the biggest monthly increase in five months, driving expectations for a solid US August non-farm payrolls figure.

The dollar was trading against the Indian rupee at Rs 64.04 and the greenback was at 6.598 in terms of the Chinese yuan.



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