Mixed patterns were seen on the money market as the rupee moved both ways against the dollar during the week, ended on November 22, 2014. In the interbank market, the rupee rose by 55 paisa versus the dollar for buying and selling at Rs 102.20 and Rs 102.40.
In the open market, the rupee, however, lost 20 paisa in relation to the dollar for buying and selling at Rs 102.20 and Rs 102.40. The rupee managed to pick up 80 paisa in terms of the euro for buying and selling at Rs 127.00 and Rs 1127.25.
The rupee, somehow, struggled to come out of crisis after improvement in supply of dollars, experts said and adding that if demand for dollars surges, the local currency may not sustain its levels in terms of the dollar. But it is most likely that the rupee may manage to resist sharp decline on the back of easy supply of dollar and in the absence of major payments, experts said.
INTER-BANK MARKET RATES: On Monday, the rupee failed to hold its firmness against the dollar, losing 46 paisa for buying and selling at Rs 102.20 and Rs 102.24. On Tuesday, the rupee managed to gain 45 paisa versus the dollar for buying and selling at Rs 101.75 and Rs 101.78.
On Wednesday, the rupee appreciated by five paisa in relation to the dollar for buying and selling at Rs 101.70 and Rs 101.73, they said. On Thursday, rupee gained 10 paisa in relation to the dollar for buying and selling at Rs 101.60 and Rs 101.64, they said.
On Friday, the rupee slipped by five paisa in relation to the dollar for buying at Rs 101.65 and the national currency also shed three paisa for selling at Rs 101.67.
OPEN MARKET RATES: On November 17, the rupee held the overnight levels against the dollar for buying and selling at Rs 102.00 and Rs 102.20. The rupee lost 55 paisa in relation to the euro for buying and selling at Rs 127.80 and Rs 128.05.
On November 18, the rupee also picked up 10 paisa against the dollar for buying and selling at Rs 101.90 and Rs 102.10. The rupee inched up by five paisa in relation to the euro for buying and selling at Rs 127.75 and Rs 128.00.
On November 19, the rupee, however, shed 10 paisa against the dollar for buying and selling at Rs 102.00 and Rs 102.20. The rupee also gained 35 paisa in terms of the euro for buying and selling at Rs 128.10 and Rs 128.35.
On November 20, the rupee, however, shed 10 paisa against the dollar for buying and selling at Rs 102.10 and Rs 102.30. The rupee also fell by 20 paisa against the euro for buying and selling at Rs 128.30 and Rs 128.55.
On November 21, the rupee sustained it's rate against the dollar for buying at Rs 102.10 while it fell by five paisa for selling at Rs 102.35. The rupee gained sharply against the euro, picking up Rs 1.10 for buying and selling at Rs 127.20 and Rs 127.45.
On November 22, the rupee shed 10 paisa against the dollar for buying at Rs 102.20 while it fell by five paisa for selling at Rs 102.40. The rupee extended overnight gains versus the euro, rising 20 paisa for buying and selling at Rs 127.20 and Rs 127.25.
OVERSEAS MARKET OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar swung wildly against the yen, initially spiking to a seven-year high after data showed Japan's economy unexpectedly slipped into recession before pulling down as the grim economic news sent Tokyo stocks tumbling.
Inter bank buy/sell rates for the taka against the dollar. 77.54-77.55 (previous 77.51-77.53).
Call Money Rates: 06.50-08.50 percent (Previous 06.50-08.50 percent).
In the second Asian trade, the dollar held its own, as investors waited to see if Japan's leader would call a snap election after the country unexpectedly slipped into recession and European Central Bank officials raised the prospects of further stimulus steps. The dollar was available against the Indian rupee at Rs 61.74, the US currency was trading versus the Malaysian ringgit at 3.3540 and the Chinese yuan at 6.1213.
Inter bank buy-sell rates for the taka against the dollar on Tuesday. 77.55-77.55 (previous 77.54-77.55). Call Money Rates: 06.50-08.50 percent (Previous 06.50-08.50 percent).
In the third Asian trade, the yen hit a fresh seven-year low versus the dollar, staying on the defensive after Japanese Prime Minister Shinzo Abe decision to postpone a sales tax rise was read as supportive of risk sentiment.
The dollar was trading against the Indian rupee at Rs 61.74, the greenback at 3.3560 in terms of the Malaysian ringgit and the US currency was available at 6.117 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday. 77.57-77.57 (previous 77.55-77.55). Call Money Rates: 06.50-08.50 percent (Previous 06.50-08.50 percent).
In the fourth Asian trade, the yen slid on Thursday, striking seven-year lows against the dollar and a six-year trough versus the euro as speculators poured into carry trades funded by a tide of super-cheap liquidity from the Bank of Japan.
The dollar was trading against the Indian rupee at Rs 62.16, the US currency was available at 3.3640 versus the Malaysian ringgit and the greenback was at 6.1246 in relation to the dollar.
Inter bank buy-sell rates for the taka against the dollar on Thursday. 77.57-77.60 (previous 77.55-77.57). Call Money Rates: 06.50-08.50 percent (Previous 06.50-08.50 percent.
In the final Asian trade, the yen rose sharply after Japanese Finance Minister Taro Aso said the currency's fall over the past week was too rapid, in one of the strongest warnings against a weak yen since Japan started its aggressive monetary stimulus two years ago.
The dollar was available against the Indian rupee at Rs 61.94, the US currency was at 3.3535 in terms of the Malaysian ringgit and the greenback was at 6.1202 in relation to the Chinese yuan.
At the week-end, the euro fell sharply after European Central Bank (ECB), chief Mario Draghi said inflation expectations were declining to levels that were very low, keeping the door open for further monetary easing soon.
The euro fell 1.19 percent to $1.2389 and dropped 1.58 percent against the Japanese yen to 145.89 yen.
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