The rupee managed to hold present levels versus the dollar on the money market during the week, ended on June 3, 2017. The rupee shed paisas versus the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee lost Re one in relation to the euro for buying and selling at Rs 119.00 and 120.00.
OPEN MARKT RATE: INTERBANK MARKET RATES: The rupee traded versus the dollar within the band for buying and selling at Rs 104.86 and Rs 104.87 and Rs 104.85 and Rs 104.88.
Commenting on the slight fluctuations in the value of the rupee against the dollar, some experts said that the inflows of dollars from foreign countries rose 15 percent in the first two days of Holy month of Ramazan. Traditionally, monthly remittances more that doubled in Ramazan. Country's foreign exchange reserves amounted to 21.77 billion dollars during the last week.
OPEN MARKET RATES: On May 29, the rupee rose by 10 paisas in terms of the dollar for buying and selling at Rs 105.80 and Rs 106.00. While, the rupee did not move any side versus the euro for buying and selling at Rs 118.00 and 119.50. On May 30, the rupee did not move any side in terms of the dollar for buying and selling at Rs 105.80 and Rs 106.00. While, the rupee, gained 40 paisas versus the euro for buying and selling at Rs 117.60 and 119.10.
On May 31, the rupee shed 10 paisas in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee also lost 80 paisas versus the euro for buying and selling at Rs 118.30 and 119.90.
On June 1st, the rupee was unmoved in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee shed 10 paisas versus the euro for buying and selling at Rs 118.50 and 120.00. On June 2nd, the rupee was unchanged in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee gained 10 paisas versus the euro for buying and selling at Rs 118.40 and 119.90.
On Saturday, the rupee was inert against the dollar for buying and selling at Rs 105.90 and Rs 106.10. The rupee lost 60 paisas versus the euro for buying and selling at Rs 119.00 and 120.00.
INTERBANK MARKET RATES: On Monday, rates not issued due to bank holiday, On Tuesday, the rupee sustained it's present levels against the dollar for buying and selling at Rs 104.85 and Rs 104.86, dealers said. On Wednesday, the rupee slipped by one paisa versus the dollar for buying and selling at Rs 104.86 and Rs 104.87, dealers said. On Thursday, the rupee almost traded in it's overnight levels versus the dollar for buying and selling at Rs 104.86 and Rs 104.88. On Friday, the rupee almost traded at present levels versus the dollar for buying and selling at Rs 104.86 and Rs 104.88.
OVERSEAS MARKET OUTLOOK: In the first Asian trade, the dollar edged higher against a basket of currencies, moving away from last week's 6-1/2-month lows and shrugging off news of North Korea's latest missile test as investor attention turned to the Federal Reserve's expected interest rate hike next month. The dollar index, which tracks the US currency against a basket of six major rivals, inched up 0.1 percent to 97.502, holding well above last week's nadir of 96.797, its lowest since November 9.
The dollar was trading against the Indian rupee at Rs 64.570 and the greenback was at 4.267 versus the Malaysian ringgit. Inter bank buy/sell rates for the taka against the dollar on Monday. 80.53-80.55 (previous 80.53-80.55). In the second Asian trade, the dollar firmed against a basket of currencies as the euro and sterling were pressured by political uncertainties in the UK and eurozone, even as it surrendered ground against the perceived safe-haven yen.
The dollar index, which tracks the greenback against a basket of six rival currencies, rose 0.2 percent to 97.659, pulling further away from a 6-1/2-month low of 96.797 plumbed last week. Sterling slipped 0.2 percent to $1.2816, moving back toward a three-week low of $1.2775 touched on Friday, while the euro dropped 0.3 percent to 1.1128.
The euro was also on the defensive after former Italian Prime Minister Matteo Renzi said on Sunday that it makes sense "from a European perspective" for Italy's next election be held at the same time as Germany's, scheduled for September. His comments led to a sell-off in Italian government debt on Monday. The dollar was trading against the Indian rupee at Rs 64.650 and the greenback was available at 4.282 in terms of the Malaysian ringgit. Inter bank buy/sell rates for the taka against the dollar on Tuesday.
80.55-80.57 (previous 80.53-80.55). In the second Asian trade, The British pound dropped on Wednesday after a new poll found that British Prime Minister Theresa May's Conservative Party risks falling short of an overall majority in the June 8 national election. The pound was down 0.3 percent at $1.2816 after falling as low as $1.2791 earlier, approaching a one-month low of $1.2775 touched on Friday. It also slipped to a low of 0.8738 pound per euro, near Friday's eight-week low of 0.8750.
The dollar was available against the Indian rupee at Rs 64.525, the greenback was at 4.275 in terms of the Malaysian ringgit and the US currency was at 6.825 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 80.57-80.57 (previous 80.55-80.57). In the fourth Asian trade, the Australian and New Zealand dollars were stung by a private survey showing an unexpected slump in China's manufacturing activity.
The Australian dollar fell to $0.7394, from $0.7431 earlier in the day. A break of $0.7370 would test a trough of $0.7329 touched last month. The Aussie dropped around half a US cent after a disappointing economic report from China, Australia's top export market. The Aussie fell hard against the safe-haven Swiss franc to stand near one-year lows.
The dollar was trading against the Indian rupee at Rs 64.475, the greenback was at 4.287 versus the Malaysian ringgit and the US currency was at 6.800 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday. 80.57-80.57 (previous 80.57
In the final Asian trade, the dollar hit a one-week high against the yen on Friday after upbeat US private sector job figures, while the closely-watched non-farm payrolls report out later in the global day could provide another boost. The dollar hit 111.680 yen, its highest since May 26, in early trade before slipping back to 111.580, to hold a 0.2 percent gain on the day. For the week, it was on track to gain about 0.25 percent.
The dollar also received an additional lift as an improvement in broader risk sentiment-Japan's Nikkei reached a 22-month peak after Wall Street set record highs-curbed demand for the safe-haven yen. "Dollar/yen has climbed on the stronger-than-expected advance by Japanese stocks today," said Masashi Murata, senior strategist at Brown Brothers Harriman in Tokyo.
Prior to the boost from the stronger-than-expected May ADP employment report issued late on Thursday, the dollar had struggled with US political concerns and a consequent risk-off mood that had gripped the wider markets earlier in the week. The dollar was trading against the Indian rupee at Rs 64.403, the greenback was at 4.279 in terms of the Malaysian ringgit and the US currency was at 6.814 in terms of the Chinese yuan. The dollar was trading against the Indian rupee at Rs 64.403, the greenback was at 4.279 in terms of the Malaysian ringgit and the US currency was at 6.814 in terms of the Chinese yuan.
At the weekend, the dollar hit a one-week high against the yen after upbeat US private sector job figures, while the closely-watched non-farm payrolls report out later in the global day could provide another boost. The dollar hit 111.680 yen, its highest since May 26, in early trade before slipping back to 111.580, to hold a 0.2 percent gain on the day. For the week, it was on track to gain about 0.25 percent.
The dollar also received an additional lift as an improvement in broader risk sentiment -Japan's Nikkei reached a 22-month peak after Wall Street set record highs - curbed demand for the safe-haven yen. The euro was little changed at $1.1217 after losing 0.3 percent the previous day. The common currency had risen to a nine-day high of $1.1257 on Thursday and was still poised for a 0.4 percent weekly gain.
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