The rupee moved both ways against the dollar on the money market during the week, ended on 10 October, 2015. In the interbank market, the rupee picked up seven paisas against the dollar for buying and selling at Rs 104.42 and Rs 104.44.
In the open market, the rupee, however, lost 15 paisas versus the dollar for buying at Rs 104.25 and it also shed 10 paisas for selling at Rs 104.50. The rupee also fell sharply against the euro, losing Rs 1.10 for buying and selling at Rs 117.80 and Rs 118.80.
Some experts observed that the rupee managed to hold the present levels versus the dollar due to comfortable supply of greenback. Demand for dollars persisted, which is helping rupee to sustain its levels, analysts said.
They said that country's foreign exchange reserves stood over 20 billion dollars, may aided the local currency to halt erosion versus the dollar in the coming days.
INTER-BANK MARKET RATES: On Monday, the rupee held the last levels versus the dollar for buying and selling at Rs 104.50 and Rs 104.51. On Tuesday, the rupee rose by two paisas versus the dollar for buying at Rs 104.48 and it also gained one paisa for selling at Rs 104.50.
On Wednesday, the rupee inched up by one paisa versus the dollar for buying and selling at Rs 104.47 and Rs 104.49. On Thursday, the rupee picked up six paisas versus the dollar for buying and selling at Rs 104.41 and Rs 104.43. On Friday, rupee shed one paisa versus the dollar for buying and selling at Rs 104.42 and Rs 104.44.
OPEN MARKET RATES: On October 5, the rupee gained five paisas in relation to the dollar for buying at Rs 104.25 while it depicted no change for selling at Rs 104.50. The rupee, however, lost 25 piasa against the euro for buying and selling at Rs 116.50 and Rs 117.50. On October 6, the rupee, however, lost 10 paisas in relation to the dollar for buying at Rs 104.35 and it also shed five paisas for selling at Rs 104.55. The rupee maintained its last levels versus the euro for buying and selling at Rs 116.50 and Rs 117.50. On October 7, the rupee, however, shed five paisas in terms of the dollar for buying and selling at Rs 104.40 and Rs 104.60. The rupee fell versus the euro, losing 75 paisas for buying and selling at Rs 117.25 and Rs 118.25.
On October 8, the rupee depicted no change in terms of the dollar for buying and selling at Rs 104.40 and Rs 104.60. The rupee, however, gained 25 paisas in relation to the euro for buying and selling at Rs 117.00 and Rs 118.00.
On October 9, the rupee depicted no change in terms of the dollar for buying and selling at Rs 104.40 and Rs 104.60. The rupee, however, gave up overnight gains versus the euro, losing 60 paisas in relation to the euro for buying and selling at Rs 117.60 and Rs 118.60.
OPEN MARKET RATES: The rupee depicted no variation in relation to the dollar for buying and selling at Rs 104.40 and Rs 104.60, they said. The rupee shed 20 paisas versus the euro for buying and selling at Rs 117.80 and Rs 118.80, they added.
OVERSEAS OUTLOOK FOR DOLLARS: In the first Asian trade, the dollar nursed losses, edging away from a near two-week low against a basket of currencies it marked in the previous session after weak US jobs data led traders to pare bets that the Federal Reserve was poised to hike interest rates as early as this month.
The dollar was trading against the Indian rupee at Rs 65.32, the greenback was at 4.4000 in terms of the Malaysian ringgit and the US currency was available at 6.3571 in terms of the Chinese ringgit.
Inter bank buy/sell rates for the taka against the dollar on Monday: 77.80-77.80 (previous 77.80-77.80). 05.25-06.50 percent (Previous 05.25-06.50 percent).
In the second Asian trade, the dollar stood tall versus the yen as improving investor risk appetite worked against the safe-haven Japanese currency, which was also under pressure from the prospect of the Bank of Japan eventually easing monetary policy.
Better risk appetite in turn helped the Australian dollar to a 2-week high, with the Aussie further boosted when the Reserve Bank of Australia held rates steady for a fifth month.
The dollar was available against the Indian rupee at Rs 65.30, the US currency was at 4.3600 in terms of the Malaysian ringgit and the greenback was at 6.357 versus 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). 05.25-06.50 percent (Previous 05.25-06.50 percent).
In the third Asian trade, the yen rebounded modestly against its peers after the Bank of Japan stood pat on monetary policy. The yen was pressured earlier amid some speculation that the BOJ would ease in the wake of weak economic data and flagging inflation, but the central bank kept monetary policy steady, preferring to save its limited options.
The dollar was trading against the Indian rupee at Rs 65.26, the greenback was at 4.2825 in terms of the Malaysian ringgit and the US currency was at 6.3571 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). 05.25-06.50 percent (Previous 05.25-06.50 percent).
In the fourth Asian trade, the dollar eased against the yen on Thursday, struggling to gain traction as investors were waiting the minutes of last Federal Reserve meeting for clues on monetary policy.
Although Shanghai shares climbed 3.4 percent as Chinese markets resumed trade after being on holiday since the start of the month, risk sentiment was subdued overall with US equity futures slipping 0.7 percent.
The dollar was trading against the Indian rupee at Rs 65.12, the greenback was at 4.2180 in terms of the Malaysian ringgit and the US currency was available at 6.3510 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). 05.30-06.50 percent (Previous 05.25-06.50 percent).
In the final Asian trade, the Australian dollar hit a six-week high and emerging Asian currencies rallied, as the greenback came under pressure due to increasing doubts that the US Federal Reserve will raise interest rates this year.
Commodity currencies and emerging Asian currencies have enjoyed a banner week as many investors pushed back expectations for the timing of Fed lift-off into next year after last week's lacklustre US jobs data.
The dollar was available against the Indian rupee at Rs 64.83, the greenback was at 4.1200 versus the Malaysian ringgit and the US currency at 6.348 in terms of the Chinese yuan.
At the weekend, the US dollar hit multi-week lows against the euro and Swiss franc, the day after minutes from the Federal Reserve's September meeting bolstered expectations for a later interest rate hike, while growth-linked currencies surged.
The dollar index, which measures the greenback against a basket of six major currencies, was set for its second straight week of losses after the minutes focused on external factors depressing the outlook for inflation.
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