The rupee moved cautiously against the dollar on the money market during the week, ended on July 11. In the interbank market, the rupee gained six paisas against the dollar for buying and selling at Rs 101.70 and Rs 101.71.
In the open market, the rupee lost 10 paisas against the dollar for buying and selling at Rs 102.85 and Rs 103.05, they said. The rupee followed same trend versus the euro, losing 75 paisas for buying and selling at Rs 113.50 and Rs 114.50.
The rupee managed to resist sharp decline against the dollar during the week, experts said. They attributed the stability to easy supply of dollars.
It is most likely that the rupee may maintain firm trend in time to come, they said. An apparent reason of the rupee's stability versus the dollar is country's foreign exchange reserves stood at Rs 18.71 billion dollars.
INTER-BANK MARKET RATES: On Monday, the rupee slipped by four paisas in relation to the dollar for buying and selling at Rs 101.79 and Rs 101.80.
On Tuesday, the rupee somehow held the overnight levels in relation to the dollar for buying and selling at Rs 101.78 and Rs 101.80.
On Wednesday, the rupee picked up three paisas in relation to the dollar for buying and selling at Rs 101.75 and Rs 101.76. On Thursday, the rupee gained two paisas in relation to the dollar for buying and selling at Rs 101.73 and Rs 101.74.
On Friday, the rupee gained three paisas in terms of the dollar for buying and selling at Rs 101.70 and Rs 101.71.
OPEN MARKET RATES: On July 6, the rupee maintained its rising trend against the dollar, gaining 15 paisas for buying and selling at Rs 102.75 and Rs 102.95.
The national currency also picked up 75 paisas versus the euro for buying and selling at Rs 112.75 and Rs 113.75.
On July 7, the rupee recovered 10 paisas against the dollar for buying and selling at Rs 102.65 and Rs 102.85, they said. The national currency also picked up 75 paisas versus the euro for buying and selling at Rs 112.00 and Rs 113.00, respectively, they said.
On July 8, the rupee extended overnight gains, gaining five paisas against the dollar for buying and selling at Rs 102.60 and Rs 102.80. The national currency, however, shed 30 paisas versus the euro for buying and selling at Rs 112.30 and Rs 113.30.
On July 9, the rupee gave up overnight gains against the dollar, losing 20 paisas for buying and selling at Rs 102.80 and Rs 103.00. The national currency, however, shed 30 paisas versus the euro for buying and selling at Rs 112.75 and Rs 113.75.
On July 10, the rupee managed to hold the overnight levels against the dollar for buying and selling at Rs 102.80 and Rs 103.00. The national currency, however, lost Rs 1.35 versus the euro for buying and selling at Rs 114.10 and Rs 115.10.
On July 11, the rupee shed five paisas against the dollar for buying and selling at Rs 102.85 and Rs 103.05, they said. The national currency gained 60 paisas versus the euro for buying and selling at Rs 113.50 and Rs 114.50, respectively.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trading, the euro pared its losses but was still sharply lower after Greek voters overwhelmingly rejected terms of a rescue package, sending the safe-haven yen up amid fears the cash-strapped nation might exit the euro zone.
The common currency skidded to a six-week low of 133.700 yen very early in the Asian session, from 136.185 late on Friday. It had since rebounded to 135.355, down about 0.6 percent on the day.
Against the greenback, the euro fell as far as $1.0969, but did not approach the one-month trough of $1.0955 set a week ago. It recovered some ground to buy $1.1045, down about 0.6 percent.
In the second Asian trade, the euro slipped, but remained well off lows touched in the previous session ahead of a euro zone summit that investors hope might offer a way for Greece to climb out of its debt crisis and stay in the common currency.
The dollar was trading against the Indian rupee at Rs 63.38, the greenback was at 3.8050 in terms of the Malaysian ringgit and the US currency was at 6.2093 against 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: 05.25-6.50 percent (Previous 05.25-06.50 percent).
The dollar was trading against the Indian rupee at 63.59, the greenback was at 3.8060 and the US currency was at 6.2079 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.30-6.50 percent (Previous 05.25-06.50 percent).
In the third Asian trade, the dollar and yen gained with investors seeking the perceived safety of these currencies as Asian equities, notably volatile Chinese shares, fell across the board and hurt risk appetite.
The euro slipped 0.3 percent to $1.0975, crawling back towards a five week trough of $1.0916 struck the previous day on lingering angst towards the Greek debt crisis.
The common currency had received some reprieve overnight to poke above $1.10 after euro zone members gave Athens until the end of the week to come up with a proposal for sweeping reforms in return for loans.
The dollar was trading against the Indian rupee at Rs 63.53, the greenback was at 3.8052 in terms of the Malaysian ringgit and the US currency was available at 6.2096 in relation to 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: 05.25-6.50 percent (Previous 05.25-06.50 percent).
In the fourth Asian trade, the yen surrendered some of its gains on Thursday as a smidgen of stability returned to recently volatile Chinese stock markets, and investors locked in gains after the Japanese currency's biggest one-day rally against the greenback this year.
The dollar was up 0.4 percent at 121.21 yen, after tumbling 1.5 percent on Wednesday to suffer its biggest drop since December. It fell as far as 120.410 yen as investors unwound short positions amid a slump in global equities triggered by panic selling in Chinese stocks.
The dollar was trading against the Indian rupee at Rs 63.54, the greenback was at 3.8000 in terms of the Malaysian ringgit and the US currency was at 6.2087 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.25-6.50 percent (Previous 05.25-06.50 percent).
In the final Asian trade, the euro firmed on Friday, while the safe-haven yen slipped as risk appetite warmed a touch on an extended rebound in Chinese shares and signs that Greece was making some progress in its efforts to secure fresh funding.
The common currency climbed 1.1 percent against the yen to 135.28 and put on 0.5 percent to $1.1094 as Athens took a step forward by sending a package of reform proposals to its euro zone creditors.
The greenback was trading against the Indian rupee at Rs 63.41, the US currency was available at 3.7860 in terms of the Malaysian ringgit and the dollar was at 6.2084 versus the Chinese yuan.
At the week-end, the euro advanced broadly, jumping more than 2 percent against the yen, on optimism Greece would be able to forge a debt deal with its creditors, enabling the troubled nation to stay in the euro zone. The yen and the Swiss franc, which tend to do well during turmoil in financial markets, both fell as demand for riskier assets also picked up after Chinese shares rebounded.
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