On the back of rising demand for dollars, the rupee lost its value in relation to the dollar during the week, ended on November 26, 2016.
In the open market, the rupee dropped 30 paisas against the dollar for buying at Rs 107.15 and it also lost 20 paisa for selling at Rs 107.00 and Rs 107.40, they said. The rupee shed 55 paisas in relation to the euro for buying and selling at Rs 114.25 and Rs 115.75, they said.
In the interbank market, the rupee was almost unchanged in terms of the dollar for buying and selling at Rs 104.84 and Rs 104.85.
The dollar's demand was higher amid speculative buying of the greenback, currency exports said. Rumours were speculating that rupee slipped due to smuggling of dollar, besides, they observed that investors were also busy in purchasing of dollars.
OPEN MARKET RATES: On Monday, the rupee gave up 10 paisas versus the greenback for buying and selling at Rs 106.70 and Rs 106.90.
The rupee reversed back it's weekend firmness in relation to the euro, losing 70 paisas for buying at Rs 113.70 and it also shed 20 paisas for selling at Rs 114.70.
On Tuesday, the rupee firmly held the overnight levels versus the greenback for buying and selling at Rs 106.70 and Rs 106.90. The rupee shed 10 paisas in relation to the euro for buying and selling at Rs 113.80 and Rs 114.80.
On Wednesday, the rupee gained 10 paisas against the dollar for buying and selling at Rs 106.60 and Rs 106.80 respectively, and it picked up 30 paisas versus the euro for buying and selling at Rs 113.50 and Rs 114.50 respectively.
On Thursday, the rupee shed 20 paisas against the greenback for buying and selling at Rs 106.80 and Rs 107.00, they said. The rupee was unmoved in relation to the euro for buying and selling at Rs 113.50 and Rs 114.50. On November 24, the rupee inched up slightly in terms of the dollar for buying and selling at Rs 104.81 and Rs 104.83.
On Friday, the rupee continued decline against the dollar, losing 20 paisas against the greenback for buying and selling at Rs 107.00 and Rs 107.20, they said. The rupee adopted the same pattern in relation to the euro for buying and selling at Rs 114.00 and Rs 115.50, they said.
INTER-BANK MARKET RATES: On November 21, the rupee remained unchanged against the dollar for buying and selling at Rs 104.84 and Rs 104.85. On November 22, the rupee almost sustained it last levels against the dollar for buying and selling at Rs 104.84 and Rs 104.85.
On November 23, the rupee was firm against the dollar for buying and selling at Rs 104.84 ad Rs 104.85 respectively. On November 24, the rupee was firm against the dollar for buying and selling at Rs 104.84 ad Rs 104.85. On November 25, the rupee gave up overnight gains in terms of the dollar, shedding three paisas for buying and selling at Rs 104.84 and Rs 104.85.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar held near 13 1/2-year highs against a currency basket in Asian trading, as investors stuck with bets that President-elect Donald Trump's administration would adopt expansionary fiscal policies that will lead to higher interest rises.
The dollar index, which tracks the US unit against a basket of six rivals, added 0.1 percent to 101.31, after adding more than 4 percent last week to mark its biggest weekly rise since March 2015. It notched a high of 101.48 on Friday, its highest since April 2003.
The dollar war trading against the Indian rupee at Rs 68.15, the greenback was available at 4.4280 in terms of the Malaysian ringgit and the US currency was at 6.8975 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 78.57-78.58 (previous 78.58-78.58).
In the second Asian trade, the dollar took a breather as investors consolidated the gains built on expectations of increased fiscal spending and higher inflation under a Trump administration.
The dollar was trading against the Indian rupee at 68.16, the greenback was available at 4.4220 in terms of the Malaysian ringgit and the US currency was at In the third Asian trade, most emerging Asian currencies eased on Wednesday as the dollar hovered around a 13-1/2-year peak and as expectations grew that the Federal Reserve may raise interest rates further next year after an expected hike in December.
The Malaysian ringgit hit a near 14-month low as short-term foreign investors kept selling local financial assets. The dollar was trading against the Indian rupee at 68.42, the greenback was available at 4.4390 in terms of the Malaysian ringgit and the US currency was at 6.8928 versus the Chinese yuan.
In the fourth Asian trade, the dollar firmed in Asian trading after data suggesting a pickup in US economic growth early in the fourth quarter increased chances of the Federal Reserve raising interest rates.
The dollar was available against the Indian rupee at Rs 68.56, the greenback was at 4.4550 in terms of Malaysian ringgit and the US currency was 6.9187 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 78.63-78.65 (previous 78.60-78.62).
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