THE RUPEE: modest recovery

The rupee managed to recover against the dollar during the week, ended on December 3, 2016.
OPEN MARKET RATES: The rupee recovered 60 paisas in terms of the dollar for buying and selling at Rs 106.80 and Rs 107.20, dealers said.
The local currency also gained sharply against the euro for buying and selling at Rs 113.00 and Rs 114.50.
INTER-BANK MARKET RATES: No change was witnessed versus the dollar for buying and selling at Rs 104.83 and Rs 104.84.
Commenting on the sliding trend in the value of the rupee, experts said that in the beginning sessions of the week, the tumbled due to strong buying of dollars.
In the meantime, slight improvement in supply of dollars helped rupee to recover modest ground versus the dollar. Besides, country's foreign exchange reserves fell to 23.6 billion dollars.
OPEN MARKET RATES: On Monday, the rupee extended week-end losses versus the dollar, losing 25 paisas in term of the greenback for buying and selling at Rs 107.40 and Rs 107.60 respectively, dealers said. The local currency also depreciated by 35 paisas against the euro for buying and selling at Rs 114.60 and Rs 116.10 respectively, they said.
On Tuesday, the rupee dropped 20 paisas in term of the greenback for buying at Rs 107.60 and the local currency also lost 30 paisas for selling at Rs 107.90. The local currency, however, gained 40 paisas against the euro for buying and selling at Rs 114.00 and Rs 115.50.
On Wednesday, the rupee held the overnight levels in term of the greenback for buying and selling at Rs 107.60 and Rs 107.90. While, the local currency lost 80 paisas against the euro for buying and selling at Rs 114.80 and Rs 115.80.
On Thursday, the rupee rose by 10 paisas in term of the greenback for buying and selling at Rs 107.50 and Rs 107.80 while it also picked up Rs 1.5 against the euro for buying at Rs 113.75 and 55 paisas for selling at Rs 115.25.
On Friday, the rupee picked up 10 paisas in term of the greenback for buying and selling at Rs 107.40 and Rs 107.70. While, the local currency did not move any side against the euro for buying and selling at Rs 113.75 and Rs 115.25.
On Saturday, the rupee 60 paisas in term of the greenback for buying and selling at Rs 106.80 and Rs 107.20, dealers said. The local currency also gained sharply against the euro for buying and selling at Rs 113.00 and Rs 114.50.
INTER-BANK MARKET RATES: On November 28, the rupee moved in a narrow range in relation to the greenback for buying and selling at Rs 104.83 and Rs 104.84.
On November 29, the rupee shed two paisas in relation to the greenback for buying and selling at Rs 104.85 and Rs 104.86. On November 30th, the rupee recovered two paisas in relation to the greenback for buying and selling at Rs 104.83 and Rs 104.84.
On November 1st, the rupee inched up by one paisa in relation to the greenback for buying and selling at Rs 104.82 and Rs 104.83. On November 2nd, the rupee shed one paisa in relation to the greenback for buying and selling at Rs 104.83 and Rs 104.84.
OVERSEAS MARKET OUTLOOK FOR DOLLAR: In the first Asian trade, Most emerging Asian currencies rose as the dollar retreated from a near 14-year high with sliding oil prices dragging U.S. Treasury yields lower, while doubts remained over further appreciation in regional units.
The dollar was trading against the Indian rupee at 68.61, the greenback was available at 4.4570 in terms of the Malaysian ringgit and the US currency was at 6.9018 versus the Chinese yuan.
In the second Asian trade, the dollar clawed back some losses as Italian political woes weighed on the euro, though the greenback remained shy of recent highs after US Treasury yields stepped back from multi-month highs.
The dollar was available against the Indian rupee at Rs 68.68, the greenback was at 4.4610 versus the Malaysian ringgit and the US currency was at 6.8922 against the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 78.71-78.72 (previous 78.68-78.72).
In the third Asian trade, the dollar pared earlier losses against the yen and euro and edged up, as US debt yields resumed their ascent.
The greenback's gains were limited, however, as traders braced for a meeting by the Organisation of the Petroleum Exporting Countries (OPEC) later in the day which could spark volatility in financial markets and weigh on the US currency.
The euro was down 0.2 percent at $1.0632 following a rise to $1.0660. It had gained 0.3 percent overnight.
The rupee was trading against the Indian rupee at 68.62, the greenback was at 4.4640 in terms of the Malaysian ringgit and the US currency was at 6.8857 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.75-78.75 (previous 78.71-78.72).
In the fourth Asian trade, the dollar pared earlier losses against the yen and euro and edged up, as US debt yields resumed their ascent.
The greenback's gains were limited, however, as traders braced for a meeting by the Organization of the Petroleum Exporting Countries (OPEC) later in the day which could spark volatility in financial markets and weigh on the US currency.
The euro was down 0.2 percent at $1.0632 following a rise to $1.0660. It had gained 0.3 percent overnight.
The rupee was trading against the Indian rupee at 68.62, the greenback was at 4.4640 in terms of the Malaysian ringgit and the US currency was at 6.8857 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.75-78.75 (previous 78.71-78.72).
In the fifth Asian trade, the dollar eased from a 9-1/2 month high against the yen on Friday, with investors cautious ahead of a looming US jobs report that could set the market's tone in coming days.
The greenback was poised to end lower against a basket of currencies this week during which it gave up some of its recent robust gains. The dollar index sagged 0.2 percent to 100.86, and was down 0.6 percent for the week.
The dollar was trading against the Indian rupee at Rs 68.35, the greenback was at 4.4430 in terms of the Malaysian ringgit and the US currency was at 6.8839 versus the Chinese yuan.
At the week-end, the dollar fell broadly on Friday after posting gains the last three weeks as a solid, but not spectacular, US non-farm payrolls report stirred doubts about the path of rate increases next year.
Analysts, however, said the dollar's weakness was just a short-term correction, a much-needed one, after a strong rally in the wake of Donald Trump's victory in the US presidential election on November 8.