The rupee was almost unchanged in terms of the dollar in the interbank market, while it lost 20 paisas versus the greenback in the open during the week, ended on Oct 29, 2016. In the interbank market, the rupee was almost unchanged versus the dollar for buying and selling at Rs 104.83 and Rs 104.84.
In the open market, the rupee dropped by 20 paisas in terms of the dollar for buying and selling at Rs 105.80 and Rs 106.00, they said. While, the rupee lost Re one in relation the euro for buying and selling at Rs 116.00 Rs 117.50.
The dollar was in demand due to uncertain political situation in the country, money experts said. It is most likely that the rupee may play both sides in relation to the dollar in the near futures, they added.
INTER-BANK MARKET RATES: On Monday, the rupee extended weekend slide versus the dollar, dropping four paisas for buying and selling at Rs 104.84 and Rs 104.85,.
On Tuesday, the rupee was almost unchanged versus the dollar for buying and selling at Rs 104.83 and Rs 104.85.
On Wednesday, the rupee gained seven paisas in relation to the dollar for buying and selling at Rs 104.76 and Rs 104.78 respectively, they said. On Thursday, the rupee was down by five paisas versus the dollar for buying and selling at Rs 104.82 and Rs 104.84. On Friday, the rupee was almost unchanged versus the dollar for buying and selling at Rs 104.83 and Rs 104.84.
OPEN MARKET RATES: On Oct 24, the rupee also shed 10 paisas against the dollar for buying and selling at Rs 105.60 and Rs 105.80, they said. The rupee was also unmoved in terms of the euro for buying at Rs 115.00 while it lost 50 paisas for selling at Rs 116.50.
On Oct 25, the rupee continued decline in terms of the dollar, shedding 10 paisas against the dollar for buying and selling at Rs 105.70 and Rs 105.90, they said. The rupee also slid in terms of the euro, losing 30 paisas for buying and selling at Rs 115.30 Rs 116.80, they said.
On Oct 26, the rupee shed 10 paisas versus the dollar for buying and selling at Rs 105.80 and Rs 106.00 respectively, while it sustained overnight level in terms of the euro for buying and selling at Rs 115.30 Rs 116.80. On Oct 27, the rupee was unchanged in relation to the dollar for buying and selling at Rs 105.80 and Rs 106.00 respectively, while it was also unmoved in terms of the euro for buying and selling at Rs 115.30 and 116.80 respectively.
On Oct 28, the rupee did not move in terms of the dollar for buying and selling at Rs 105.80 and Rs 106.00, they said. While, the rupee slid in relation to the euro, losing 10 paisas for buying and selling at Rs 115.40 Rs 116.90.
On Oct 29, the rupee was unchanged in terms of the dollar for buying and selling at Rs 105.80 and Rs 106.00, they said. While, the rupee shed 60 paisas in relation the euro for buying and selling at Rs 116.00 Rs 117.50, they said.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar was close to eight-month highs against a basket of currencies in Asian trade on Monday, buoyed by expectations that the US Federal Reserve will raise interest rates this year.
The dollar index, which tracks the greenback against a basket of six major counterparts, stood at 98.696, not far from its Friday high of 98.813, which was its loftiest peak since Feb. 3.
The dollar was trading against the Indian rupee at Rs 66.88, the greenback was available at 4.1800 versus the Malaysian ringgit and the US currency was at 6.7738 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 held near nine-month highs against a basket of major currencies on Tuesday as solid US manufacturing activity and comments from a Federal Reserve official cemented expectations of a US rate hike by year-end. The dollar's index against a basket of six major currencies traded at 98.768. The dollar index had hit a high of 98.846 on Monday, having risen 3.6 percent so far this month.
The dollar was trading against the Indian rupee at Rs 66.88, the greenback was available at 4.1725 versus the Malaysian ringgit and US currency was at 6.7760 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, most emerging Asian currencies gained on Wednesday as the dollar retreated from a near nine-month peak, while regional units struggled to sustain the momentum due to growing expectations of a US Federal Reserve interest rate hike in December.
The yuan rose after China's central bank set its daily guidance rate higher, reflecting the greenback's slide.
The dollar was trading against the Indian rupee at Rs 66.80, the greenback was available at 4.1580 versus the Malaysian ringgit and US currency was at 6.7698 versus the Chinese yuan.
In the fourth Asian trade, most emerging Asian currencies fell on Thursday as China's yuan hit a six-year low in offshore markets, with the dollar just shy of this week's nine-month peak amid solid expectations of a US interest rate hike in December.
The offshore renminbi touched 6.7921 per dollar, its weakest since October 2010, while spot yuan in the onshore market eased after the People's Bank of China set its daily guidance rate weaker than the previous session.
The dollar was trading against the Indian rupee at Rs 66.89, the greenback was available at 4.1830 versus the Malaysian ringgit and US currency was at 6.7775 versus the Chinese yuan.
In the final Asian trade, the dollar traded near a three-month high versus the yen, on track for monthly gains against most rivals as investors waited for US third quarter growth data later in the day.
Positive growth numbers would reinforce expectations that the US Federal Reserve is gearing up to hike interest rates.
A disappointing result, however, could trigger a fall in the dollar, a scenario that played out in late July when US second-quarter GDP data came in weak.
The dollar eased 0.1 percent to 105.16 yen, holding near Thursday's high of 105.35 yen, which was the greenback's strongest level since late July.
The dollar was trading against the Indian rupee at Rs 66.87, the greenback was at 4.1945 versus the Malaysian Ringgit and US currency was available at 6.7791 in terms of the Chinese yuan.
At the week-end, the US dollar tumbled against a basket of major currencies while hitting a three-week high against the Mexican peso on US political uncertainty after the FBI said it would review more emails related to Democratic presidential candidate Hillary Clinton's private email use.
The reports added a new twist to the US presidential campaign with just 11 days to go before Election Day on Nov. 8. Analysts said the dollar's losses against major rivals were largely on renewed uncertainty over the outcome of the election, since traders were largely expecting a Clinton victory.
Markets have tended to see Clinton as the candidate of the status quo, while there is greater uncertainty over what a victory for Republican presidential candidate Donald Trump might mean for US foreign policy, international trade deals or the domestic economy.
Comments
Comments are closed.