The rupee moved both ways against the dollar on the local currency market during the week, ended on April 25, 2015. In the interbank market, the rupee moved up by six paisas versus the dollar for buying and selling at Rs 101.57 and Rs 101.59.
In the open market, the rupee, however, shed five paisas against the dollar for buying and selling at Rs 102.45 and Rs 102.65, the local currency, also lost Rs 1.25 in relation to the euro for buying and selling at Rs 111.00 and Rs 111.25, they said.
The rupee managed to minimise losses versus the dollar due to comfortable supply of dollar, some experts said. They further said that it is very clear that the rupee may not fluctuate sharply versus the dollar in the near future.
Country's foreign exchange reserves stood at 17.491 billion dollars, which may ease the supply of dollars and this factor will assist the rupee to hold the present trend against the greenback.
INTER-BANK MARKET RATES: on Monday, the rupee dropped by seven paisas against the dollar for buying at Rs 101.57 and the national currency shed four paisas for selling at Rs 101.59. On Tuesday, the rupee inched up by one paisa against the dollar for buying and selling at Rs 101.56 and Rs 101.58. On Wednesday, the rupee gained one paisa against the dollar for buying and selling at Rs 101.55 and Rs 101.57. On Thursday, the rupee dropped by eight paisas against the dollar for buying and selling at Rs 101.63 and Rs 101.65. On Friday, the rupee held the last closing levels versus the dollar for buying and selling at Rs 101.63 and Rs 101.65.
OPEN MARKET RATES: On April 20, the rupee fell by 10 paisas in terms of the dollar for buying and selling at Rs 102.40 and Rs 102.60. The rupee, however, gained 65 paisas versus the euro for buying and selling at Rs 109.75 and Rs 110.00. On April 21, the rupee, however, shed five paisas in terms of the dollar for buying and selling at Rs 102.45 and Rs 102.65. The rupee also gained 25 paisas versus the euro for buying and selling at Rs 109.50 and Rs 109.75.
On April 22, the rupee recovered overnight losses against the dollar, gaining five paisas in terms of the dollar for buying and selling at Rs 102.40 and Rs 102.60. The rupee, however, lost 25 paisas versus the euro for buying and selling at Rs 109.75 and Rs 110.00.
On April 23, the rupee also slipped and lost 10 paisas against the dollar for buying and selling at Rs 102.50 and Rs 102.70. The rupee adopted the same patterns versus the euro, losing 35 paisas for buying and selling at Rs 110.10 and Rs 110.35.
On April 24, the rupee was also unmoved in relation to the dollar for buying and selling at Rs 102.50 and Rs 102.70. While, the rupee dropped by 50 paisas in terms of the euro for buying and selling at Rs 110.60 and Rs 110.85.
On April 25, the rupee posted fresh gain of five paisas in relation to the dollar for buying and selling at Rs 102.45 and Rs 102.65. The rupee, however, lost 40 paisas in terms of the euro for buying and selling at Rs 111.00 and Rs 111.25.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar got off to a sleepy start, in contrast to a more sprightly performance by its Australian and New Zealand peers in the wake of China's latest stimulus injection.
The People's Bank of China (PBOC) on Sunday cut the amount of cash that banks must hold as reserves (RRR) in the latest attempt to help spur bank lending and combat slowing growth. The Aussie dollar briefly touched a near one-month high of $0.7844, rising from around $0.7785 late in New York on Friday. It has since stepped back to $0.7807.
The dollar was trading against the Indian rupee at Rs 62.55, the greenback was available at 3.6200 versus the Malaysian ringgit and the US currency was at 6.2029 against the Chinese yuan.
Interbank buy/sell rates for the taka against the dollar on Monday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.00-8.00 percent (Previous 06.80-08.00 percent).
In the second Asian trade, the dollar edged higher against its peers on Tuesday, drawing support as the euro was pressured by increasing worries that Greece could default on its debt and eventually exit the single currency.
The euro eased 0.1 percent to $1.0731, down from Friday's one-week high of $1.0849. The common currency was knocked back on Monday after public sector entities in Greece were ordered to transfer idle reserves to the central bank to help alleviate a cash squeeze.
The dollar was trading against the Indian rupee at Rs 63.07, the greenback was available at 3.6430 versus the Malaysian ringgit and the US currency was at 6.2019 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 06.80-8.00 percent (Previous 06.75-08.00 percent).
In the third Asian trade, the euro edged lower, pressured by continued uncertainty over Greece's debt negotiations, while the Australian dollar rose after inflation data suggested an interest rate cut was not imminent.
The euro drifted down about 0.1 percent to 128.29 yen, moving back toward its overnight low of 127.45. Against the greenback, the euro slipped about 0.1 percent to $1.0722.
The dollar was available against the Indian rupee at Rs 62.76, the greenback was at 3.6115 in terms of the Malaysian ringgit and the US currency was at 6.1976 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 06.80-8.00 percent (Previous 06.80-08.00 percent).
In the fourth Asian trade, the US dollar held firm after strong US housing data helped to lift US bond yields while the New Zealand dollar fell more than one percent following dovish central bank comments.
The dollar's index against a basket of six major currencies gained 0.3 percent to 98.270, extending its recovery into the fourth day. The dollar has been a currency of choice for many investors so far this year as the US Federal Reserve is expected to raise interest rates in coming months, enhancing the yield attraction of the dollar.
The dollar was trading against the Indian rupee at Rs 63.05, the US currency was at 3.6185 versus the Malaysian ringgit and the greenback was at 6.1970 in terms of the Chinese yuan.
Interbank buy/sell rates for the taka against the dollar on Thursday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 06.80-8.00 percent (Previous 06.80-08.00 percent).
In the final Asian trade, the dollar nursed losses after yet more underwhelming US economic news, while signs that cash-strapped Greece was making tentative progress in securing fresh funding helped underpin a broad rally in the euro.
The common currency last stood at $1.0822, having powered up from Thursday's low of $1.0666. The latest rally came as German Chancellor Angela Merkel said everything must be done to prevent Greece from running out of money.
The dollar was trading against the Indian rupee at Rs 63.45, the greenback was at 3.5910 versus the Malaysian ringgit and the US currency was at 6.1976 in terms of the Chinese yuan.
At the week-end, data showing a seventh straight monthly decline in US business spending plans knocked the dollar lower and gave Federal Reserve policymakers even less reason to raise near-zero interest rates any time soon.
The euro backed away from a two-week high against the dollar after euro zone finance ministers told Greece it will get no more aid until it strikes a full economic reform plan.
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