Dollar higher

The dollar managed to gain against the rupee on the money market during the week, ended on December 17, 2016.
OPEN MARKET RATES: The rupee drifted lower against the greenback, losing 20 paisas for buying and selling at Rs 107.70 and Rs 108.00. The rupee also lost 50 paisas in relation to the euro for buying and selling at Rs 112.50 and Rs 114.00.
INTER-BANK MARKET RATES: The rupee moved cautiously, showing no change versus the dollar for buying and selling at Rs 104.85 and Rs 104.86.
Marketmen observed that the rupee came under pressure against the dollar due to strong demand for the greenback.
They said that the dollar is firm against the world currencies globally, so it appears that the US currency may extend further ground in terms of the rupee.
OPEN MARKET RATES: On December 13, the rupee was unchanged versus the greenback for buying and selling at 107.20 and Rs 107.40.
The rupee lost 20 paisas versus the euro for buying and selling at Rs 113.20 and Rs 114.75.
On December 14, the rupee dropped by 10 paisas versus the greenback for buying and selling at 107.30 and Rs 107.50. The rupee also shed 50 paisas versus the euro for buying and selling at Rs 113.70 and Rs 115.20.
On December 15, the rupee shed 10 paisas more versus the greenback for buying and selling at 107.40 and Rs 107.60. The rupee, however, picked up 70 paisas in relation to the euro for buying and selling at Rs 112.00 and Rs 113.50. On December 16, the rupee shed 10 paisas against the greenback for buying at Rs 107.50 and it also lost 20 paisas for selling Rs 107.80.
The rupee, however, picked up 70 paisas in relation to the euro for buying and selling at Rs 112.00 and Rs 113.50. On December 17, the rupee drifted lower against the greenback, losing 20 paisas for buying and selling at Rs 107.70 and Rs 108.00.
The rupee also lost 50 paisas in relation to the euro for buying and selling at Rs 112.50 and Rs 114.00.
INTER-BANK MARKET: On Tuesday, the rupee shed five paisas against dollar for buying and selling at Rs 104.84 and Rs 104.85. On Wednesday, the rupee firmly held the overnight levels against dollar for buying and selling at Rs 104.84 and Rs 104.85. On Thursday, the rupee was almost unchanged versus dollar for buying and selling at Rs 104.84 and Rs 104.85. On Friday, the rupee slipped by one paisa versus dollar for buying and selling at Rs 104.85 and Rs 104.86.
OVERSSEAS DOLLAR VALUE VERSU MAJOR CURRENCIES: In the first session, the dollar inched lower but didn't stray far from recent highs ahead of a US Federal Reserve meeting that's expected to deliver an interest rate hike as well as clues to future monetary policy.
The euro remained under pressure after the European Central Bank's dovish moves last week, while rallying oil prices helped lift the Canadian dollar to a nearly 8-week high against its US counterpart.
In the second Asian session, the dollar steadied against the yen and euro as a surge in Treasury yields was tempered and as the market braced for the outcome of the Federal Reserve's policy meeting starting later in the day. The euro was little changed at $1.0629.
The dollar was trading against the Indian rupee at Rs 67.46, the greenback was at 4.4220 versus the Malaysian ringgit and the US currency was at 6.9010 in terms of the Chinese yuan.
In the third Asian trade, the dollar took a breather as investors looked to whether the Federal Reserve will signal any acceleration in the pace of future rate increases to deal with an expected ramp-up in fiscal spending under President-elect Donald Trump.
The dollar was trading against the Indian rupee at Rs 67.56, the greenback was at 4.4445 in terms of Malaysian ringgit and the US currency was at 6.9053 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar: 78.85-78.85 (previous 78.84-78.85).
In the fourth Asian trade, the dollar hovered near a 14-year peak against a basket of major currencies, receiving a major boost after the Federal Reserve increased the number of projected interest rate hikes for 2017.
The dollar was trading against the Indian rupee at Rs 67.43, the greenback was at 4.4610 in terms of the Malaysian ringgit and the US currency was at 6.9339 versus the Chinese yuan.
In the final, the dollar held hefty gains against major currencies, after scaling 14-year highs against the euro and a broader basket of currencies as markets repositioned for a faster pace of rate rises by the Federal Reserve over the next year.
The dollar was trading against the dollar at Rs 67.82, the greenback was at 4.4750 versus the Chinese yuan and the US currency was at 6.9470 in relation to the Chinese yuan.
At the week-end, the US dollar edged lower against a basket of major currencies, but still held near 14-year highs touched after Wednesday's Federal Reserve meeting, with profit-taking halting the greenback's rally.
The Fed also signalled it was likely to hike rates three more times in 2017, up from the two increases forecast at the central bank's September meeting.