THE RUPEE: move both ways

Divergent trend was seen on the money market on Wednesday in the process of trading, they said. The rupee recovered four-paisa versus the dollar for buying and selling at Rs 101.97 and Rs 101.98 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, shed 10-paisa in terms of the dollar for buying and selling at Rs 103.40 and Rs 103.60 respectively, but it retained the overnight value against the euro for buying and selling at Rs 113.00 and Rs 114.00 respectively, they added.
In the third Asian trade, the dollar held broad gains, having rallied to an eight-year high against the yen after a batch of upbeat data bolstered the case for a US interest rate hike this year.
The greenback climbed as far as 123.33 yen on Tuesday, reaching a high not seen since mid-2007. It last stood at 123.14, within reach of its June 2007 peak of 124.14. A break there would take it to levels last seen in late 2002. The dollar was trading against the Indian rupee at Rs 64.08, the greenback was at 3.6370 versus the Malaysian ringgit and the US currency was at 6.204 in terms of 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: 05.25-7.00 percent (Previous 05.25-07.00 percent.

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Open Bid       Rs.103.40

Open Offer     Rs.103.60

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Bid Rate       Rs.101.97

Offer Rate     Rs.101.98

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