The rupee fell modestly against the dollar on the money market during the week ended on September 24, 2016. In the interbank market, the rupee shed 23 paisas versus the dollar for buying and selling at Rs 104.83 and 104.85.
In the open market, the rupee lost 20 paisas in relation to the dollar for buying and selling at Rs 105.20 and Rs 105.40. The rupee also dropped by 75 paisas in terms of the euro for buying at Rs 117.00 and selling at Rs 118.50.
Commenting on the latest development on the money market, some experts said that the rupee fluctuated with slight change versus the dollar after an increase in tension between Pakistan and India.
They expect that tension may decreases between both neighbouring countries and the rupee would not drop sharply against the dollar in the coming.
INTER-BANK MARKET RATES: On Monday, the rupee gained one paisa versus the dollar for buying and selling at Rs 104.60 and 104.62. On Tuesday, the rupee shed two paisas versus the dollar for buying and selling at Rs 104.63 and 104.65.
On Wednesday, the rupee lost 13 paisas versus the dollar for buying and selling at Rs 104.76 and 104.78.
On Thursday, the rupee shed three paisas versus the dollar for buying and selling at Rs 104.79 and 104.81. On Friday, the rupee shed four paisas versus the dollar for buying and selling at Rs 104.83 and 104.85.
OPEN MARKET RATES: On September 19, the rupee was unmoved in relation to the dollar for buying and selling at Rs 105.00 and Rs 105.20. The rupee was unchanged in terms of the euro for buying at Rs 116.25 while it lost 25 paisas for selling side at Rs 117.75.
On September 20, the rupee did not show any change in relation to the dollar for buying and selling at Rs 105.00 and Rs 105.20, they said. The rupee also slipped by five paisas in terms of the euro for buying at Rs 116.30 and selling at Rs 117.80.
On September 21, the rupee gained 10 paisas in relation to the dollar for buying and selling at Rs 104.90 and Rs 105.10 and it also gained 40 paisas in terms of the euro for buying at Rs 115.90 and selling at Rs 117.40.
On setp 22, the rupee also dropped by 10 paisas in relation to the dollar for buying and selling at Rs 105.00 and Rs 105.20 respectively, they said. The rupee followed the same pattern, slipping 90 paisas in terms of the euro for buying at Rs 116.80 and selling at Rs 118.30.
On September 23, the rupee also lost 10 paisas in relation to the dollar for buying and selling at Rs 105.10 and Rs 105.30, they said.
The rupee, however, gained five paisas in terms of the euro for buying at Rs 116.75 and selling at Rs 118.25.
On September 24, the rupee lost 10 paisas in relation to the dollar for buying and selling at Rs 105.20 and Rs 105.40.
The rupee also dropped by 25 paisas in terms of the euro for buying at Rs 117.00 and selling at Rs 118.50.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar edged lower, paring some of the gains made in the wake of strong US inflation data that bolstered bets.
The dollar was trading against the Indian rupee at Rs 66.88, the greenback was available at 4.1250 versus the Malaysian ringgit and the US currency was at 6.6686 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, Major currencies came to a standstill on Tuesday as investors look to this week's policy meetings of the Bank of Japan and Federal Reserve, with speculation rife that the Japanese central bank will make crucial changes to its easing programme.
In the third Asian trade, most emerging Asian currencies fell on Wednesday, taking their cue from the yen's slide after the Bank of Japan overhauled its policy framework and adopted a target for long-term interest rates.
The dollar was trading against the Indian rupee at Rs 67.07, the greenback was available at 4.1480 versus the Malaysian ringgit and the US currency was at 6.6718 in terms of the Chinese yuan.
In the fourth Asian trade, the dollar hit a near 4-week low against the yen after the US Federal Reserve kept monetary policy steady and projected a less aggressive path for interest rates hikes in coming years.
The dollar was available against the Indian rupee at Rs 66.86, the greenback was at 4.1080 in terms of the Malaysian ringgit and the US currency was trading at 6.6691.versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 78.40-78.40 (previous 78.40-78.40).
In the final Asian trade, the dollar gained but was on track to end a tumultuous week with losses after the Federal Reserve trimmed its long-term interest rate expectations and the Bank of Japan rebooted its monetary policy framework.
The dollar was up 0.4 percent at 101.09 yen, pulling away from a nearly four-week low of 100.10 touched overnight, though still poised to shed 1.1 percent for the week.
The dollar was trading against the Indian rupee at Rs 66.64, the US currency was available at 4.1150 in terms of the Malaysian ringgit and the greenback was at 6.6701 versus the Chinese yuan.
At the week-end, the dollar index whipsawed through the day but ended up little moved on Friday from its late Thursday levels as investors kept positions tight ahead of Monday's US presidential debate.
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