The rupee managed to hold the present levels against the dollar in the absence of motivating factors during the week, ending on August 27, 2016.
In the interbank market, the rupee was almost unchanged versus the dollar for buying and selling at Rs 104.82 and 104.84.
In the open market, the rupee after maintaining a firm trend in terms of the dollar for a long time rose by five paisas for buying and selling at Rs 106.05 and Rs 106.25. The rupee also appreciated by Re one versus the euro for buying and selling at Rs 118.00 and Rs 119.25.
Some experts said that range-bound trading was again witnessed as the rupee did not move sharply against the dollar mainly because of easy supply of dollar.
In the meantime, they said, the local currency likely to shed gain due to strong demand for dollars.
INTER-BANK MARKET: On Monday, the rupee lost 12 paisas against the dollar for buying and selling at Rs 104.82 and 104.84. On Tuesday, the rupee inched up by one paisa against the dollar for buying and selling at Rs 104.81 and 104.83.
On Wednesday, the rupee picked up three paisas against the dollar for buying and selling at Rs 104.78 and 104.80. On Thursday, the rupee held the overnight levels against the dollar for buying and selling at Rs 104.79 and 104.8.
On Friday, the rupee shed two paisas in relation to the dollar for buying and selling at Rs 104.81 and 104.83.
OPEN MARKET RATES: On August 22, the rupee, however, gained five paisas in terms of the dollar for buying and selling at Rs 106.10 and Rs 106.30. While, the rupee also picked up 30 paisas versus the euro for buying and selling at Rs 119.00 and Rs 120.00.
On August 23, while, the rupee almost held the overnight levels in terms of the dollar for buying and selling at Rs 106.10 and Rs 106.30. While, the rupee shed 40 paisas versus the euro for buying and selling at Rs 119.40 and Rs 120.40.
On August 24, the rupee also rose by 10 paisas in terms of the dollar for buying and selling at Rs 106.00 and Rs 106.20. While, the rupee appreciated by 90 paisas versus the euro for buying and selling at Rs 118.50 and Rs 119.50.
On August 25, the local currency stayed firm in terms of the dollar for buying and selling at Rs 106.00 and Rs 106.20, they said. While, the rupee shed 20 paisas versus the euro for buying and selling at Rs 118.70 and Rs 119.70, they added.
On August 26, the local currency showed no change in terms of the dollar for buying and selling at Rs 106.00 and Rs 106.20. The rupee fell 30 paisas versus the euro for buying and selling at Rs 119.00 and Rs 120.00.
On August 27, the rupee after maintaining a firm trend in terms of the dollar for a long time, shed five paisas for buying and selling at Rs 106.05 and Rs 106.25. The rupee, however, gain Re one versus the euro for buying and selling at Rs 118.00 and Rs 119.25.
Overseas outlook for dollar: In the first Asian trade, the dollar extended gains against the yen and euro as US Federal Reserve policymakers took an upbeat tone on the economy and expressed support for a near-term US interest rate hike.
The euro was down 0.3 percent at $1.1289, adding distance between $1.1366, its highest since June 24 reached on Thursday. The dollar index rose 0.4 percent to 94.843.
The dollar was trading against the Indian rupee at Rs 13225, the greenback was at 4.0320 versus the Malaysian ringgit and the US currency was available at 6.6627 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 78.40-78.40 (previous 78.40-78.40).
In the second Asian trade, the dollar dipped against the yen, while the New Zealand dollar rose after the nation's central bank chief said he did not see the need for a rapid succession of interest rate cuts.
The dollar was available against the Indian rupee at Rs 67.06, the greenback was at 4.0200 in terms of the Malaysian ringgit and the US currency was at 6.6396 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 78.40-78.40 (previous 78.40-78.40).
In the third Asian trade, the dollar edged up on Wednesday, moving off lows touched against the yen overnight, as markets looked to a gathering of global central bankers in Wyoming for clues on whether the Federal Reserve is poised to hike interest rates again.
The dollar was available against the Indian rupee at Rs 67.12, the greenback was at 4.0340 in terms of the Malaysian ringgit and the US currency was at 6.6555 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.40-78.40 (previous 78.40-78.40.
In the fourth Asian trade, the dollar was range-bound in illiquid Asian trade on Thursday as major currencies continued to tread water ahead of the global central bankers' gathering in Jackson Hole, Wyoming, at which Federal Reserve Chair Janet Yellen may offer new clues on US monetary policy.
The dollar was available against the Indian rupee at Rs 67.08, the US currency was trading versus the Malaysian ringgit at 4.0300 and the greenback at 6.6568 in terms of the Chinese yuan.
In the final Asian trade, the dollar remained on tenterhooks on Friday, on track for a modest weekly rise ahead of Federal Reserve Chair Janet Yellen's eagerly awaited speech that some believe could provide clarity on whether US interest rates will rise this year.
The dollar was trading against the Indian rupee at Rs 67.04, the US currency was available at 4.0150 in terms of the Malaysian ringgit and the greenback was at 6.6644 versus the Chinese yuan.
At the week-end, the dollar gave up earlier gains to trade little changed after Federal Reserve Chair Janet Yellen gave no indication a US interest rate rise was imminent, even though she acknowledged the case for a hike has increased recently.
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