The rupee somehow, managed to minimise losses against the dollar on the money market, during the week, ended on August 26, 2017. The rupee lost 30 paisas in terms of the dollar for buying and selling at Rs 106.60 and Rs 106.80. The rupee also slid versus the euro, shedding Rs 1.25 for buying and selling at Rs 125.60 an0 Rs 127.00.
The rupee has failed to maintain it's levels versus the dollar due to increase in demand from investors, money experts said. But, it is most likely that the rupee may sustain it's present levels in the near future, they added. They observed that political and economic instability likely to push the rates of dollar up in the coming days.
OPEN MARKET RATES: On Monday, the rupee posted fresh gain of 20 paisas in relation to the dollar for buying and selling at Rs 106.30 and Rs 106.50, they said. The rupee, however, held the weekend levels in terms of the euro for buying and selling at Rs 124.00 and Rs 125.00.
On Tuesday, the rupee stayed put in relation to the dollar for buying and selling at Rs 106.30 and Rs 106.50. The rupee was also unchanged in terms of the euro for buying and selling at Rs 124.00 and Rs 125.00. On Wednesday, the rupee was unchanged in relation to the dollar for buying and selling at Rs 106.30 and Rs 106.50. The rupee lost 25 paisas in terms of the euro for buying and selling at Rs 124.25 and Rs 125.50. On Thursday, the rupee shed 10 paisas in relation to the dollar for buying and selling at Rs 106.40 and Rs 106.60. The rupee continued fall in terms of the euro, losing Rs 1.35 for buying and selling at Rs 125.60 and Rs 126.60.
On Saturday, the rupee stayed out in relation to the dollar for buying and selling at Rs 106.60 and Rs 106.80. The rupee extended overnight slide versus the euro, losing 60 paisas for buying and selling at Rs 125.60 an0 Rs 127.00.
INTER-BANK MARKET RATE: The rupee moved slightly in terms of the dollar but closed at present levels for buying and selling at Rs 105.38 and Rs 105.40.
OVERSEAS OUTLOOK: In the first Asian trade, the dollar steadied, edging away from four-month lows against the yen plumbed in the previous session as investors turned their focus from political turmoil in Washington to the Federal Reserve's annual central banking conference in Wyoming.
The dollar was flat on the day at 109.22 yen, after slipping to as low as 108.605 yen on Friday on concerns over President Donald Trump's ability to push through tax reform and stimulus measures. It largely shrugged off the University of Michigan's consumer sentiment index, which improved to its strongest in seven months, reflecting confidence in the outlook for the economy and in personal finances as the US stock market holds near record highs.
The dollar was trading against the Indian rupee at Rs 64.050, the greenback was at 4.286 in terms of the Malaysian ringgit and the US currency was at 6.673 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 80.70-80.70 (previous 80.70-80.70). In the second Asian trade, the dollar inched higher against a basket of currencies, with traders focusing on the annual central banking conference in Jackson Hole this week for insights into the outlook for monetary policy.
The dollar index, which measures the greenback's value against a basket of six major currencies, edged up 0.1 percent to 93.169. Wyoming. The dollar was trading against the Indian rupee at Rs 64.120, the greenback was available at 4.280 and the US currency was at 6.658 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 80.70-80.70 (previous 80.70-80.70).
In the third Asian trade, the dollar edged down against the yen after US President Donald Trump raised the spectre of a government shutdown to fulfil a campaign pledge, but overall moves among major currencies were limited ahead of this week's Jackson Hole global central bankers' conference. The dollar was last off slightly on the day at 109.53 yen after touching a low of 109.37, down from around 109.67 before Trump's statement and below an earlier session high of 109.83 yen.
The dollar was trading against the Indian rupee at Rs 64.130, the greenback was at 4.280 in terms of the Malaysian ringgit and the US currency was at 6.662 in relation the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 80.70-80.70 (previous 80.70-80.70). In the fourth Asian trade, the dollar edged higher against the yen, paring some of the losses it suffered after US President Donald Trump suggested a shutdown of the government was possible and threatened to terminate the North American Free Trade Agreement.
Trump warned late on Tuesday he might end the NAFTA trade treaty with Mexico and Canada after three-way talks failed to bridge deep differences. He also said he may shut the government if he does not get funding to build a wall on the US-Mexico border.
His remarks, made ahead of a debate in Congress over a spending package and raising the debt ceiling, knocked the dollar lower on Wednesday. The dollar was available at Rs 64.050 in terms of the Indian rupee, the greenback was at 4.277 versus the Malaysian ringgit and the US currency was at 6.661 against the Chinese yuan. In the final Asian trade, the dollar was buoyant against the yen as some participants bought back the currency to square positions ahead of a meeting of central bankers in Jackson Hole, Wyoming.
While Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are expected to stay on script in speeches later in the day, investors are hungry for any clues on further US rate rises, the timing of its balance sheet tapering and whether Europe is still looking to rein in stimulus.
Yellen is due to give a speech at 1400 GMT and Draghi will speak at 1900 GMT. The US currency was a shade firmer at 109.640 yen after gaining 0.5 percent overnight. The dollar was trading against the Indian rupee at Rs 64.030, the greenback was at 4.276 in terms of the Malaysian ringgit and the US currency was at 6.663 in relation to the Chinese yuan
At the weekend, the dollar fell to a three-week low against the euro and a one-week trough versus the yen on Friday after Federal Reserve Chair Janet Yellen made no reference to US monetary policy in her speech at the annual central bank research conference in Jackson Hole, Wyoming.
Investors were not expecting Yellen to make a policy statement anyway, but some market participants were hoping for some signal on the Fed's planned balance sheet reduction, if not on the outlook for US interest rate hikes. "At this point, there isn't too much for Yellen to add," said currency strategist Sireen Haraji of Mizuho Corporate Bank in New York. "The FOMC (Federal Open Market Committee) has been very clear in terms of communicating their intention to continue tightening policy very gradually, and I don't think they see anything to change that view."
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