On open market, the rupee lost 35 paisa in terms of dollar for buying and selling at 86.15 and 86.35, while in relation to euro, it fell sharply by Rs 4.01 for buying and selling at Rs 125.21 and Rs 125.71 due to the EU single currency's surge against major currencies.
During pre-budget sessions, the rupee had somehow managed to trim its losses versus dollar despite high demand for the latter. However, in the budget as a whole, there were no shocking or surprising news for the nation, particularly on the monitory system. It is understood that if imports increase, demand for dollars can go up in the coming days. The rupee can come under pressure if the dollar appreciated against other major currency of the world. It's a fact that there are higher demands for dollar to meet the payment requirements, which helped the dollar to go up versus rupee. Another contributing factor behind rupee's weakness is speculative trade by rumourmongers or profit-takers. The rupee's performance would also depend on the demand and supply factor. Falling trend in the import bills and increase in remittances may help in trimming its losses in relation to the US currency.
INTER-BANK MARKET: On Monday, the rupee gained four paisa for buying and selling versus dollar at 85.76 and 85.81.
On Tuesday, the rupee lost12 paisa against dollar for buying at 85.88 and 85.93. On Wednesday, the rupee inched up one paisa against dollar for buying at 85.87 and two paisa for selling at 85.91.
On Thursday, the rupee shed seven paisa against dollar for buying and selling at 85.94 and 85.98. On Friday, the rupee recovered nine paisa against dollar for buying at 85.85 and eight paisa for selling at 85.90.
On Saturday, the rupee shed 10 paisa against dollar for buying and selling at 85.95 and 86.00.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the euro dipped after its bounce lost steam ahead of chart resistance, with investors covering short positions in dollar following a slide in US currency late during previous week.
The euro still held on to bulk of gains it made on previous Friday when it climbed more than 1 percent against greenback for its biggest one-day percentage rise in about a month.
The euro was supported after Greek central bank chief George Provopoulos was quoted as saying on Friday that the country would repay its debts in full, without restructuring if it stuck to a fiscal austerity plan.
The yuan ended at a record high against dollar after People's Bank of China set a new peak for the mid-point for the third straight session, suggesting another leg of appreciation was under way.
Inter bank buy/sell rates for taka against dollar were 73.45/73.52 (previous 73.39/73.49), and Call Money Rates 6.00-10.00 percent (previous 5.00-10.00 percent).
Indian rupee was available at Rs 45.16 versus dollar, Malaysian ringgit at 3.0160, and Chinese yuan at 6.483.
In the second Asian trade, euro rose to a three-week peak against dollar after a wave of short-covering, triggered by a report saying that Germany could make concessions on efforts to put together a bailout for Greece, with traders eyeing $1.45 as its next target. Germany is considering dropping its push for an early rescheduling of Greek bonds in order to facilitate a new package of aid loans for Greece, the Wall Street Journal reported, citing people familiar with the matter.
"The euro zone problems appear to be subsiding for now. Or putting it another way, the market appears to have stopped looking at them as a factor for now," said Teppei Ino, a currency analyst at Bank of Tokyo-Mitsubishi UFJ, adding that the market could now focus on the heavy schedule for US data releases later in the week.
Indian rupee was trading at Rs 45.08 versus dollar, Malaysian ringgit at 3.0090, and Chinese yuan was at 6.4816.
Inter bank buy/sell rates for taka against dollar were 73.45/73.60 (previous 73.45/73.52), and Call Money Rates 5.75-10.00 percent (previous 6.00-10.00 percent).
In the Third Asian trade, euro rose to a three-week peak against dollar, boosted by hopes for an agreement on Greek austerity steps and progress towards an aid package for the debt-hobbled nation, but the currency approached chart resistance that might cap its near-term gains.
The euro nudged higher in early Asian trade after Greek newspaper Kathimerini said in its online edition that details of Greek government's mid-term fiscal plan were expected to be finalised by Wednesday night, or Thursday morning, traders said.
The euro rose as high as $1.4438 on trading platform EBS, its highest since early May, adding to gains on Tuesday, but failed to decisively breach immediate resistance at the top of the Ichimoku cloud on the daily chart at $1.4442.
The yuan ended down slightly against dollar after People's Bank of China set a weaker mid-point following five days of record high fixings, reflecting its intention to let yuan take a breather. Indian rupee was trading at Rs 44.84 versus dollar and Malaysian ringgit at 3.0200.
In the fourth Asian trade, dollar stuck near a one-month low against a basket of currencies and hovered near a record low versus Swiss franc, after more weak US data stoked jitters that US economy's soft patch might become protracted.
The euro edged up against dollar but remained well below a recent four-week high, having taken a hit the previous day after Moody's Investors Service slashed Greece's credit rating by three notches deep into junk territory.
Inter bank buy/sell rates for taka against dollar were 73.59/73.73 (previous 73.55/73.65), and call money rates 7.00-12.00 percent (previous 6.00-12.00 percent).
In the final Asian trade, euro hit a one-month high against dollar, with investors fretting whether US jobs data, due later in the day, might signal a protracted soft patch in US economy's recovery and a further slide in dollar.
Disappointing US data spurred a drop in the 10-year US Treasury yield to a six-month low earlier in the week and dragged dollar down to a one-month trough versus a basket of major currencies.
With market expectations already lowered after a report in the week showed sharply slower growth in private sector jobs last month, market players said the chances of a steep dollar sell-off after US jobs data on Friday did not seem very high.
Yuan ended up slightly against dollar after People's Bank of China set a higher mid-point, underpinning expectations that it would let the Chinese currency rise further to help curb inflation. Indian rupee was trading at Rs 44.87 versus dollar and Malaysian ringgit at 3.0120.
At the final session, dollar sank and was likely to drop further in the week ahead after weak US jobs data added to evidence of a marked economic slowdown.
The negative sentiment in United States contrasted with cautious optimism in euro zone, with euro touching a one-month high on optimism that Greece would receive its next aid payment and avoid restructuring its debt.
The single currency surged after the European Union, the European Central Bank and the International Monetary Fund said that the next tranche of international aid for Greece should be available in July.
And in a European Central Bank policy meeting, where ECB President Jean-Claude Trichet was expected to signal a July interest-rate hike by using the term "vigilance" in reference to monitoring inflation, and the dollar has little upside.
"The next few weeks will see broad choppy ranges," said Gareth Sylvester, senior currency strategist at San Francisco-based Klarity FX. "So many questions remain."
OPEN MARKET RATES: On May 30, rupee lost 30 paisa against dollar for buying and selling at 86.10 and 86.30. It also lost Rs 1.47 in terms of euro for buying and selling at Rs 122.67 and Rs 123.17.
On May 31, rupee retained overnight levels in relation to dollar for buying and selling at 86.10 and 86.30, while it fell sharply versus euro by Rs 1.14 for buying and selling at Rs 123.81 and Rs 124.31.
On June 1, the rupee did not show any change in relation to dollar for buying and selling at 86.10 and 86.30, while it recovered 32 paisa in relation to euro for buying and selling at Rs 123.49 and Rs 123.99.
On June 2, the rupee did not show any change in relation to dollar for buying and selling at 86.10 and 86.30, while it lost 54 paisa in relation to euro for buying and selling at Rs 124.03 and Rs 124.53.
On June 3, the rupee did not show any change in relation to the dollar for buying and selling at 86.10 and 86.30,and lost 34 paisa versus euro for buying and selling at Rs 124.37 and Rs 124.87.
On June 4, the rupee lost five paisa for buying and selling at 86.15 and 86.35. The rupee also lost 84 paisa versus euro for buying and selling at Rs 125.21 and Rs 125.71.