Home »Top Stories » THE RUPEE: easier trend

The rupee depicted an easier trend against the dollar on the money market during the week, ended on October 28, 2017.

OPEN MARKET RATES: The rupee lost 30 paisas in relation to the dollar for buying and selling at Rs 107.40 and Rs 107.60, they said.

While, the rupee was trading versus the euro for buying and selling at Rs 124.30 and Rs 125.80, they said.

INTERBANK-MARKET RATES: The rupee showed no major change in terms of the dollar for buying and selling at Rs 105.41 and Rs 105.42.

Marketmen said that the rupee fell modest due to strong demand for dollar and it looks that the rupee may come under pressure against the dollar.

INTER-BANK MARKET RATES: On Monday, the rupee shed two paisas versus the dollar for buying and selling at Rs 105.44 and Rs 105.45.

On Tuesday, the rupee was also unchanged in terms of the dollar for buying and selling at Rs 105.44 and Rs 105.45.

On Wednesday, the rupee slipped by one paisa in terms of the dollar for buying and selling at Rs 105.45 and Rs 105.46, they said.

On Thursday, the rupee showed no major change in terms of the dollar for buying and selling at Rs 105.44 and Rs 105.45.

On Friday, the rupee, however, gained three paisas in terms of the dollar for buying and selling at Rs 105.41 and Rs 105.42.

OPEN MARKET RATES: On 23 Oct, the rupee showed no significant change in relation to the dollar for buying and selling at Rs 107.10 and Rs 107.30.

The rupee picked up 30 paisas versus the euro for buying and selling at Rs 125.50 and Rs 126.75.

On October 24, the national currency showed no major change in relation to the dollar for buying and selling at Rs 107.10 and Rs 107.30.

While, the rupee lost 50 paisas versus the euro for buying and selling at Rs 126.00 and Rs 127.25.

On October 25, the national currency slid in relation to the dollar, losing 10 paisas for buying and selling at Rs 107.20 and Rs 107.40, they said.

While, the rupee was unchanged versus the euro for buying and selling at Rs 126.00 and Rs 127.25, they said.

On October 26, the rupee lost 10 paisas in relation to the dollar for buying and selling at Rs 107.30 and Rs 107.50, they said.

While, the rupee was down by 50 paisas versus the euro for buying and selling at Rs 126.50 and Rs 128.00, they said.

On October 27, the rupee continued fall, shedding further 10 paisas in relation to the dollar for buying and selling at Rs 107.40 and Rs 107.60, they said.

While, the rupee gained over Rs 2 versus the euro for buying and selling at Rs 124.50 and Rs 125.75, they said.

OVERSEAS OUTLOOK FOR DOLALR: In the first Asian trade, the dollar touched a three-month high against the yen, with an emphatic election victory for Japan's ruling party keeping yen-weakening stimulus measures at the heart of government policy.

The dollar was available against the Indian rupee at 65.030, the greenback was at 4.230 in terms of the Malaysian ringgit and the US currency was at 6.632 versus the Chinese yuan.

Inter bank buy/sell rates for the taka against the dollar on Monday: 80.85-80.85 (previous 80.85-80.85).

In the second Asian trade, the dollar edged down, stepping back from recent highs as market attention turns to who will be the next head of the US central bank.

President Donald Trump told reporters on Monday he is "very, very close" to deciding who should chair the Federal Reserve after interviewing five candidates for the position.

These include current Fed Chair Janet Yellen, whose term expires in February, as well as Fed Governor Jerome Powell, Stanford University economist John Taylor, Trump's chief economic advisor Gary Cohn, and former Fed Governor Kevin Warsh.

The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.2 percent at 93.741, moving away from 94.017, which had been its highest since October

The dollar was trading against the Indian rupee at Rs 64.935, the greenback was at 4.233 versus the Malaysian ringgit and the US currency was available at 6.628 in terms of the Chinese yuan.

Inter bank buy/sell rates for the taka against the dollar on Tuesday: 80.85-80.85 (previous 80.85-80.85).

In the third Asian trade, the dollar held near a three-month high versus the yen, underpinned by reports of Republican senators' favouring John Taylor to become the next head of the Federal Reserve, while the Aussie dollar weakened after soft inflation data.

The dollar last traded at 113.77 yen, down 0.1 percent on the day, but still within sight of Monday's peak of 114.10 yen, which was the dollar's highest since July 11.

A source familiar with the matter said Trump polled the Republicans on whether they would prefer Taylor or current Fed Governor Jerome Powell for the job. The dollar was trading against the Indian rupee at Rs 65.14, the greenback was at 4.232 in terms of the Malaysian ringgit and the US currency was at 6.641 versus the Chinese yuan.

Inter bank buy/sell rates for the taka against the dollar on Wednesday.80.85-80.85 (previous 80.85-80.85).

In the fourth Asian trade, the euro inched higher as investors awaited details of the European Central Bank's plans for scaling back its bond- buying programme, while the dollar took a breather after its recent rally.

The euro inched up 0.1 percent to $1.1824, having edged up from a two-week low of $1.1725 that had been set on Monday.

The ECB is widely expected to announce a scaling back of its bond-buying stimulus on Thursday, taking its biggest step yet in unwinding years of loose monetary policy.

Most economists also expect the ECB asset-buying programme to be extended by either six months or nine months after the current programme expires at the end of this year.

The dollar was trading against the Indian rupee at Rs 64.76, the greenback was at 4.233 in terms of the Malaysian ringgit and the US currency was at 6.630 in relation to the Chinese yuan.

Inter bank buy/sell rates for the taka against the dollar on Thursday: 80.85-80.85 (previous 80.85-80.85).

The dollar held near a three-month high versus the yen on Wednesday, underpinned by reports of Republican senators' favouring John Taylor to become the next head of the Federal Reserve, while the Aussie dollar weakened after soft inflation data.

Taylor, a Stanford University economist, is seen as someone who may put the Fed on a path of faster interest rate increases compared to current Fed chair Janet Yellen, whose term expires next February.

The dollar last traded at 113.77 yen, down 0.1 percent on the day, but still within sight of Monday's peak of 114.10 yen, which was the dollar's highest since July 11.

The dollar was trading against the Indian rupee at Rs 65.14, the greenback was at 4.232 in terms of the Malaysian ringgit and the US currency was at 6.641 versus the Chinese yuan.

Inter bank buy/sell rates for the taka against the dollar on Wednesday.80.85-80.85 (previous 80.85-80.85).

In the final Asian trade, the dollar stood tall, on track for weekly gains, while the euro slumped to three-month lows after the European Central Bank extended its bond purchases and reduced the chances that it would hike interest rates in 2018.

The ECB prolonged its bond buying programme by nine months to September 2018, and left the door open to keep buying after that. It said it would begin paring its monthly purchases by half to 30 billion euros ($34.90 billion) starting in January.

ECB chief Mario Draghi said "an ample degree of monetary stimulus remains necessary", as inflation has yet to show signs of a sustained upward trend.

The euro was 0.1-percent lower at $1.1631, its lowest level since July 26. It was down 1.3 percent for the week. The dollar was trading against the Indian rupee at Rs 65.01, the greenback was available at 4.241 versus the Malaysian ringgit and the US currency was at 6.653 in terms of the Chinese yuan.

In last New York trading session, the euro fell and was on track for its biggest weekly loss of the year as the European Central Bank's decision on Thursday to prolong its bond purchases signalled its willingness to stick with an ultra-loose policy stance.

The tension between Madrid and Catalonia's secessionists also stoked selling in the single currency after the Catalan parliament on Friday declared independence from Madrid following a secret ballot. "The dovish surprise from the ECB was its openness to extend the duration of its bond purchase program," said Omer Esiner, chief market strategist at Commonwealth Foreign Exchange in Washington.



the author

Top
Close
Close