Slight decline was witnessed in the value of the rupee in terms of the dollar mainly because of rise in dollar demand, during the week, ended on September 29, 2017. According to some leading experts, the dollar improved against the rupee due to rising demand by buyers.
Besides, they said that some factors may create shortage of dollars in the coming days, which cold push dollar up versus the rupee. Dollars are not short in demand, but in fact, fall in exports and continued disappointments in basis fundamentals, likely to provide dollar an opportunity to look ahead.
OPEN MARKET RATES: The rupee depreciated by 20 paisas in relation to the dollar for buying and selling at Rs 106.10 and Rs 106.30. The rupee lost 30 paisas in terms of the euro for buying at Rs 125.10 while the local currency slid by Re.one for selling Rs 126.60.
INTER-BANK MARKET RATES: Range-bound trading was seen in the inter-bank market as the rupee did not move sharply in terms of the dollar for buying and selling at Rs 105.41 and Rs 105.43.
OPEN MARKET RATES: On Monday, the rupee dropped by 10 paisas in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said. The rupee, however, rose by 40 paisas against the euro for buying and selling at Rs 125.30 and Rs 126.30.
On Tuesday, the rupee shed 10 paisas in terms of the dollar for buying and selling at Rs 106.000 and Rs 106.20. The rupee, however, lost 80 paisas against the euro for buying and selling at Rs 124.50 and Rs 125.50.
On Wednesday, the rupee maintained overnight levels versus the dollar for buying and selling at Rs 106.00 and Rs 106.20. While, the rupee, gained 30 paisas against the euro for buying at Rs 124.30 and it shed 10 paisas for selling at Rs 125.60.
On Thursday, the rupee shed 10 paisas versus the dollar for buying and selling at Rs 106.10 and Rs 106.30. The rupee also dropped by 30 paisas in terms of the euro for buying at Rs 124.60 and while the local currency did not show any change for selling Rs 125.60.
On Friday, the rupee showed no change versus the dollar for buying and selling at Rs 106.10 and Rs 106.30. The rupee lost 50 paisas in terms of the euro for buying at Rs 125.10 while the local currency slid by Re.one for selling Rs 126.60.
INTER-BANK MARKET RATE: On September 25, te rupee shed two paisas versus the dollar for buying and selling at Rs 105.42 and Rs 105.43. On September 26, the rupee shed two paisas versus the dollar for buying and selling at Rs 105.42 and Rs 105.45. On sept 27, the rupee sustained the last levels in terms of the dollar for buying and selling at Rs 105.43 and Rs 105.45, they said. On September 28, the rupee, however, gained two paisas in terms of the dollar for buying and selling at Rs 105.41 and Rs 105.42.
On September 29, the rupee was almost unchanged in terms of the dollar for buying and selling at Rs 105.41 and Rs 105.43.
OVERSEAS MARKET OUTLOOK: In the first Asian trade, the euro slipped after Germany's election showed surging support for a far-right party that left Chancellor Angela Merkel scrambling to form a governing coalition.
The euro was trading down 0.3 percent at $1.1922 and could test support around $1.1860 as liquidity picked up through the session.
The dollar was trading against the Indian rupee at Rs 64.78, the greenback was available versus the dollar at 4.191 in terms of the Malaysian ringgit and the US currency was at 6.605 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday. 80.80-80.80 (previous 80.80-80.80).
In the second Asian trade, the yen stood tall after tensions on the Korean peninsula flared-up anew amid an escalating war of words between North Korea and the United States, while the euro struggled near a four-week low versus the dollar.
The dollar was 0.15 percent lower at 111.550 yen after coming off a high of 112.530 the previous day. The euro was steady at 132.340 yen after dropping more than 1 percent overnight.
The Japanese currency made sharp gains after North Korea's foreign minister Ri Yong Ho said on Monday that President Donald Trump had declared war on the country and that Pyongyang reserved the right to take countermeasures, including shooting down US bombers even if they are not in its air space.
The dollar was trading against the Indian rupee at Rs 65.34, the greenback was at 4.206 in terms of the Malaysian ringgit and the US currency was at 6.620 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday. 80.80-80.80 (previous 80.80-80.80).
In the third Asian trade, the euro slipped after Germany's election showed surging support for a far-right party that left Chancellor Angela Merkel scrambling to form a governing coalition.
The euro fell as much as 0.5 percent to $1.1896 and last stood at $1.1933, down 0.2 percent, holding above support around $1.1860.
Merkel did win a fourth term in office on Sunday but will have to build an uneasy coalition to form a government after her conservatives haemorrhaged support in the face of a surge by the anti-immigration Alternative for Germany (AfD).
Despite winning the most votes, Merkel's bloc slumped to its worst result since 1949 and her current Social Democrat coalition partners said they would go into opposition after tumbling to 20.7 percent in projections, a post-war low.
The dollar was trading against the Indian rupee at Rs 64.78, the greenback was at 4.191 in terms of the Malaysian ringgit and the US currency was available at 6.605 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday. 80.80-80.80 (previous 80.80-80.80)
In the fourth Asian trade, the dollar hit a one-month high against a basket of currencies, underpinned by hopes that US President Donald Trump's administration may be making progress on tax reforms. The dollar index, which measures the greenback against a basket of six major currencies, rose 0.2 percent to 93.575.
The dollar was available versus the Indian rupee at Rs 65.77, the greenback was at 4.235 in terms of the Malaysian ringgit and the US currency was trading against the Chinese yuan at 6.669. Inter bank buy/sell rates for the taka against the dollar on Thursday. 80.80-80.80 (previous 80.80-80.80).
In the final Asian trade, the dollar inched higher against a basket of major currencies, having pulled back from one-month highs set this week as investors pondered the Trump administration's tax plan and the outlook for Federal Reserve policy.
The dollar index, which tracks the greenback against a basket of six major currencies, rose 0.1 percent to 93.155, languishing below Thursday's peak of 93.666, its highest level since August 18.
The dollar was trading against the Indian rupee Rs 65.43, the greenback was at 4.227 in terms of the Malaysian ringgit and the US currency was at 6.676 versus the Chinese yuan.
In New York, the dollar was little changed against a basket of major currencies after conflicting US economic data, leaving it on course for its largest weekly rise in 2017 amid a rise in expectations for inflation and US interest rate hikes.
The one-week rise of just under one percent helped the greenback post its first monthly gain against its peers since February.
On Friday, the dollar fell to session lows after the release of a report showing US consumer spending barely rose in August, but that was offset by an unexpected increase in the University of Chicago's purchasing managers' index and an in-line reading on consumer sentiment.
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