Divergent trend seen on the currency market during the week, ended on 4 October, 2014. In the interbank market, the rupee recovered 12 paisa against the dollar for buying at Rs 102.52 and it also gained 11 paisa for selling at Rs 102.55, respectively. The rupee, however, shed slightly against the dollar for buying and selling at Rs 102.00 and Rs 102.25 in the open market. The rupee picked up 75 paisa in terms of the euro for buying and selling at Rs 128.00 and Rs 128.25.
It was observed that despite the persisting demand for dollars, the rupee, somehow, managed to resist sharp losses versus the dollar, experts said. So, it appeared that the rupee may move both ways in relation to the dollar in times to come, they added.
Besides, country's reserves fell to 13.210 billion dollars last week. Demand for dollars was high and the rupee came under owing to strong demand, which forced rupee to
INTER-BANK MARKET RATES: On Monday, the rupee managed to sustain it's surge against the dollar, gaining 14 paisa for buying and selling at Rs 102.64 and Rs 102.66. On Tuesday, the rupee maintained overnight levels versus the dollar for buying and selling at Rs 102.64 and Rs 102.66. On Wednesday, the rupee inched up by four-paisa in relation to the dollar for buying and selling at Rs 102.59 and Rs 102.62, respectively.
On Thursday, the rupee maintained rising trend verus the dollar, gaining further four paisa for buying and selling at Rs 102.55 and Rs 102.57. On Friday, the rupee moved with little gains against the dollar, gaining more three paisa for buying and selling at Rs 102.52 and Rs 102.55.
OPEN MARKET RATES: On Sept 29, the rupee picked up 45 paisa versus the dollar for buying at Rs 101.90 and the national currency also rose by 40 paisa for selling at Rs 102.15. The rupee appreciated by 75 paisa in terms of the euro for buying and selling at Rs 128.75 and Rs 129.00.
On Sept 30, the rupee 20 paisa versus the dollar for buying at Rs 102.10 and the national currency also rose by 15 paisa for selling at Rs 102.30. The rupee gained 25 paisa in terms of the euro for buying and selling at Rs 128.50 and Rs 128.75.
On October 1st, the rupee sustained overnight levels in terms of the dollar for buying and selling at Rs 102.20 and Rs 102.40. The rupee, however, lost 50 paisa versus the euro for buying and selling at Rs 128.50 and Rs 128.75.
On October 2nd, the rupee was lower against the dollar, losing 10-paisa for buying and selling at Rs 102.20 and Rs 102.40, respectively, but gained 50-paisa in terms of the euro for buying and selling at Rs 128.00 and Rs 128.25 respectively.
On October 3rd, the rupee did not move any side in relation to the dollar for buying and selling at Rs 102.20 and Rs 102.40. While, the rupee lost 25 paisa versus the euro for buying and selling at Rs 128.75 and Rs 129.00.
On October 4th, the rupee picked up 20 paisa versus the dollar for buying at Rs 102.00 and it also gained 15 paisa for selling at Rs 102.25. The rupee also rose by 75 paisa in relation to the euro for buying and selling at Rs 128.00 and Rs 128.25.
OVERSEAS MARKET OUTLOOK: In the first Asian trade, the dollar touched a fresh four-year high against a basket of currencies and started the week close to a six-year peak against the yen, getting a tailwind from data showing higher US growth in the second quarter.
It also rose to a nearly two-year high against the euro, held aloft by divergent market expectations for US and European monetary policy.
The dollar was trading against the Indian rupee at Rs 61.39, the greenback was at 3.2720 in terms of the Malaysian ringgit and the US currency was available at 6.1399 versus the Chinese yuan.
Inter bank buy-sell rates for the taka against the dollar on Monday. 77.40-77.40 (previous 77.40-77.40). Call Money Rates: 05.75-08.50 percent (Previous 05.75-08.50 percent) (revised).
In the second Asian trade, the dollar took a breather from its recent rally but was still not far from four-year peak against a basket of major currencies, and could be on track to post its biggest monthly gain in over a year.
The dollar index last stood at 85.544, not far from an overnight peak of 85.798 - a high not seen since July 2010. Its monthly gain of more than 3 percent could put it on track for the largest since February 2013.
The dollar was trading against the Indian rupee at Rs 61.61, the greenback was available at 3.2780 versus the Malaysian ringgit and the US currency was at 6.1395 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday. 77.40-77.40 (previous 77.40-77.40). Call Money Rates: 05.75-09.00 percent (Previous 05.75-08.50 percent) (revised).
In the third Asian trade, the dollar struck a six-year high against the yen and was poised near a two-year peak against the euro, while gathering more bullish impetus on Wednesday as weaker than expected Australian retail sales data sparked selling on Australian dollar. The dollar's strength overnight was partially down to a slowdown in euro zone inflation, which fed expectations of a divergence between monetary policies in Europe and the United States, with the Federal Reserve expected to tighten at some point.
The dollar was trading against the Indian rupee at Rs 61.80, the greenback was at 3.2815 in terms of the Malaysian ringgit and the US currency was available at 6.1395 in relation to the Chinese yuan.
Inter bank buy-sell rates for the taka against the dollar on Wednesday. 77.40-77.40 (previous 77.40-77.40). Call Money Rates: 06.00-09.25 percent (Previous 05.75-09.00 percent) (revised).
In the fourth Asian trade, the safe-haven yen held its gains against the dollar on Thursday after weak manufacturing surveys from around the globe triggered a run on risk.
The euro, meanwhile, staged a modest rebound ahead of a policy review by the European Central Bank as investors took profits on the dollar's recent gains. The dollar index dropped about 0.4 percent to 85.630, pulling away from a four-year high of 86.218 touched on Tuesday. The index has marked 11 straight weekly gains.
The dollar was available against the Indian rupee at Rs 61.61, the greenback was at 3.2550 in terms of the Malaysian ringgit and the US currency was trading at 6.1395 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday. 77.40-77.40 (previous 77.40-77.40). Call Money Rates: 06.00-09.50 percent (Previous 06.00-09.25 percent). (revised).
In the final Asian trade, the dollar rebounded against the yen from steep losses overnight while investors awaited US non-farm payrolls data later in the day for further relief.
The dollar had fallen from six-year highs as a slide in global equities had driven US Treasury yields lower and increased demand for the safe-haven yen.
The dollar was trading against the Indian rupee at Rs 61.61, the greenback was at 3.2450 in terms of the Malaysian ringgit and the US currency was available at 6.139 versus the Chinese yuan.
At the weekend, the dollar climbed to a more than four-year peak after a report showing the US economy created more jobs than expected last month, which suggested that the US recovery was on a stable path.
The dollar index, a gauge of the greenback's value against six major currencies, was on track for its best yearly gain in nine years. The index was up 8 percent so far in 2014, posting weekly gains for a record 12 straight weeks.
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