The rupee crossed 107 mark versus the dollar in the early sessions of the week but ended with modest gains on the money market on November 14, 2015. In the interbank market, the rupee rose by 65 paisas against the dollar for buying and selling at Rs 105.43 and 105.45.
In the open market, the rupee gained 20 paisas against the dollar for buying at Rs 105.90 and it picked up 10 paisas for selling at Rs 106.20, the rupee also gained 65 paisas in terms of the euro for buying and selling at Rs 114.10 and Rs 115.10.
Commenting on the rupee's movement against the dollar, some experts said that decline in the regional currencies and to make exports lucrative in the international marker, could be solid factors behind the current adjustment. After the fresh decline in the rupee value, the difference between the open and interbank market rates widened, they said but now, they said that the gap is close to narrow.
The State Bank of Pakistan (SBP) said that the Pak rupee is in line with the economic fundamentals.
Besides, money expert Malik Bostan urged the dollar buyers to refrain from rush buying, because the national currency to move with slight fluctuations versus the dollar.
INTERBANK MARKET RATES: On November 9, the rupee shed three paisas against the dollar for buying and selling at Rs 105.53 and 105.55.
On November 10, the rupee held the overnight levels against the dollar for buying and selling at Rs 105.50 and 105.52. On November 11, the rupee gained seven paisas against the dollar for buying and selling at Rs 105.46 and 105.48. On November 12, the rupee inched up by two paisas against the dollar for buying and selling at Rs 105.44 and 105.46. On November 13, the rupee gained one paisa against the dollar for buying and selling at Rs 105.43 and 105.45.
OPEN MARKET RATES: On Monday, the rupee continued it's slide versus the dollar, losing 30 paisas for buying and selling at Rs 106.10 and Rs 106.30, they said. The rupee also lost 75 paisas versus the euro for buying and selling at Rs 114.75 and Rs 115.75.
On Tuesday, the national currency ended with 40 paisas loss in terms of the dollar for buying and selling at Rs 106.50 and Rs 106.70. The rupee, however, gained 35 paisas versus the euro for buying and selling at Rs 114.40 and Rs 115.40.
On Wednesday, the rupee picked up 40 paisas against the dollar for buying and selling at Rs 106.10 and Rs 106.30. On Thursday, the rupee extended overnight gains in terms of the greenback, gaining 10 paisas for buying and selling at Rs 106.00 and Rs 106.20. The rupee lost 75 paisas versus the euro for buying and selling at Rs 114.00 and Rs 115.00.
On Friday, the rupee gained five paisas in terms of the dollar for buying at Rs 105.95 and the national currency did not move any side for selling at Rs 106.20. The rupee shed 20 paisas versus the euro for buying and selling at Rs 114.20 and Rs 115.40.
On Saturday, the rupee gained five paisas in terms of the dollar for buying at Rs 105.90 but it did not move any side for selling at Rs 106.20. The rupee picked up 10 paisas versus the euro for buying and selling at Rs 114.10 and Rs 115.10.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar ceded some ground to the euro as investors took profits on Monday, after robust US employment data prompted more investors to bet on an interest rate increase in December.
The euro added 0.3 percent to $1.0768, after dropping to a seven-month low of $1.0704 on Friday following a heftier-than-expected rise in US jobs last month underscored expectations of monetary policy divergence, with the Fed seen on track to hike next month. The dollar was trading against the Indian rupee at Rs 66.35, the greenback was available at 4.3630 in terms of the Malaysian ringgit and the US currency was at 6.3621 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 78.22-78.27 (previous 78.21-78.22).
The dollar breached the barrier of Rs 107 in the open market on Tuesday in the process of trading, dealers said.
In the second Asian trade, the dollar hovered just below a seven-month peak against a basket of major currencies early on Tuesday, having consolidated its payrolls-inspired rally in a subdued session overnight.
The dollar index last stood at 99.033, drifting down from Friday's peak of 99.345, a high not seen since mid-April. Against the yen, the greenback fetched 123.15 yen, just off a 2-1/2-month high of 123.60. The euro traded at $1.0753, having been as low as $1.0704 on Friday. Versus the yen, the common currency stood at 132.20 yen, drifting off a six-month low of 131.45 plumbed recently.
Not helping the euro, four governing council members said a consensus is forming at the European Central Bank to take one of its benchmark interest rates deeper into negative territory in December.
The dollar was trading against the Indian rupee at Rs 66.36, the greenback was at 4.3675 versus the Malaysian ringgit and the US currency was available at 6.3610 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday. 78.28-78.34 (previous 78.22-78.27): 02.50-05.00 percent (Previous 02.50-05.00 percent).
In the third Asian trade, the euro nursed broad losses as political uncertainty in Portugal provided an excuse to sell in a market already bracing for further monetary policy easing from the European Central Bank. The common currency last stood at $1.0724, having slid below $1.0700 for the first time in over six months overnight. It fell as far as $1.0674 after breaking below Friday's trough of $1.0704.
The dollar was trading against the Indian rupee at Rs 66.31, the US currency was at 4.3620 in terms of the Malaysian ringgit and the greenback was available at 6.3623 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.40-78.41 (previous 78.28-78.34): 02.50-04.50 percent (Previous 02.50-05.00 percent).
In the fourth Asian trade, the dollar was down against the euro and yen as the currency consolidated after a recent rally, while the Australian dollar soared on surprisingly strong local jobs data.
The dollar index dipped 0.2 percent to 98.827, drifting down from a 7-month peak of 99.504 set on Tuesday. The greenback was at 122.88 yen, off a 2-1/2 month high of 123.60 set earlier in the week.
The euro was up 0.2 percent at $1.0763, having gone as low as $1.0674 this week - a level seen in late April. It was up 0.3 percent versus the yen at 132.25, pulling away from Friday's six-month trough of 131.45.
The dollar was at Rs 66.31 versus the Indian rupee, the greenback was available at 4.3695 in terms of the Malaysian ringgit and the US currency was at 6.366 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 78.46-78.48 (previous 78.40-78.41).
In the final Asian trade, the dollar was on the defensive against the euro and yen on Friday as risk appetite receded amid a tumble in equities to pull the greenback further away from its recent highs.
The dollar fetched 122.60 yen after capping off three straight days of losses on Thursday. It had scaled a 2-1/2-month high of 123.60 early this week after a bullish US jobs report heightened prospects of the Federal Reserve hiking interest rates in December.
The dollar also sank against the Swiss franc. The dollar to lose ground against safe havens such as the franc and yen when investor appetite for risk weakens.
The dollar was trading against the Indian rupee at Rs 66.14, the greenback was at 4.3700 in terms of the Malaysian ringgit and the US currency was at 6.3732 relation to the Chinese yuan.
On Friday, the dollar rose as statements from Federal Reserve officials and US economic data continued to support expectations that the US central bank may raise interest rates in December.
US consumer sentiment beat forecasts, gaining for the second straight month and showed an improvement in buying plans for large discretionary purchases, especially vehicles.
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