Comfortable availability of dollars helped the rupee to keep present levels against the dollar on the money market during the week, ended on March 10, 2018.
In the open market, the national currency was nearly unchanged in terms of the dollar for buying and selling at Rs 111.70 and Rs 112.00. The rupee, however, lost sharply versus the euro for buying and selling at Rs 136.25 and Rs 137.75.
In the inter-bank market, the rupee held the last levels in relation to the dollar for buying and selling at Rs 110.55 and Rs 110.56, they said.
Money analysts said that rupee sustained overnight levels due to strong supply of dollars. They predicted that if the dollar's supply improves, the rupee may recover but slightly in the coming days.
OPEN MARKET RATES: On Monday, the rupee appreciated in relation to the dollar for buying and selling at Rs 111.70 and Rs 112.00. The rupee picked up 10 paisas in relation to the euro for buying and selling at Rs 137.30 and Rs 138.80.
On Tuesday, the rupee rose by 10 paisas in relation to the dollar for buying and selling at Rs 111.60 and Rs 111.90, they said. The rupee followed the same pattern in terms of the euro, picking up five paisas for buying and selling at Rs 137.25 and Rs 138.75.
On Wednesday, the rupee shed 10 paisas in relation to the dollar for buying and selling at Rs 111.70 and Rs 112.00, they said. The rupee also lost 25 paisas in terms of the euro for buying and selling at Rs 137.50 and Rs 139.00, they added.
On Thursday, the rupee dropped by 10 paisas in terms of the dollar for buying and selling at Rs 111.80 and Rs 112.10. The rupee, however, gained 25 paisas against the euro for buying and selling at Rs 137.25 and Rs 138.75.
On Friday, the rupee maintained overnight levels in terms of the dollar for buying and selling at Rs 111.80 and Rs 112.10. The rupee sustained rising trend against the euro, picking up 75 paisas for buying and selling at Rs 136.50 and Rs 138.00.
On Saturday, the rupee recovered by 10 paisas in terms of the dollar for buying and selling at Rs 111.70 and Rs 112.00. The rupee extended overnight gains versus the euro, rising by 25 paisas for buying and selling at Rs 136.25 and Rs 137.75.
INTER-BANK MARKET RATES: On March 5, the rupee managed to hold present levels versus the dollar for buying and selling at Rs 110.56 and Rs 110.58. On Mar 6, the rupee was almost unchanged versus the dollar for buying and selling at Rs 110.57 and Rs 110.58. On Mar 7, the rupee almost maintained the overnight levels versus the dollar for buying and selling at Rs 110.57 and Rs 110.58. On Mar 8, the rupee did not move any side versus the dollar for buying and selling at Rs 110.57 and Rs 110.58.
On Mar 9, the rupee inched up by two paisas versus the dollar for buying and selling at Rs 110.55 and Rs 110.56.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar fell against most currencies on Friday, dropping to its lowest in more than two years against the yen, as President Donald Trump's proposal to impose hefty tariffs on steel and aluminium imports raised prospects of a trade war that could damage the US economy.
Friday's sell-off came just as the dollar had risen to multi-week highs amid strong data and an upbeat view on the economy from Federal Reserve Chairman Jerome Powell, which reinforced expectations of three or more interest rate hikes this year.
In the first Asian trade, the euro clawed back earlier losses on Monday but remained prone to volatility as early counts in Italian elections pointed to stronger-than-expected results for euro-sceptic parties, with no major party blocs winning an outright majority.
The common currency found some support as Germany's Social Democrats (SPD) decisively backed another coalition with Chancellor Angela Merkel's conservatives.
The euro traded at $1.2333, slightly above its late US levels, off its seven-week low of $1.21545, which it touched on Thursday.
The dollar was trading against the Indian rupee at 65.033, the greenback was at 3.897 in terms of the Malaysian ringgit and the US currency was 6.334 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 82.96-82.96 (Previous 82.96-82.96).
In the second Asian trade, the dollar held steady versus the yen on Tuesday, supported by receding fears about a trade war stemming from US President Donald Trump's proposed tariffs on imported steel and aluminium.
The dollar had tumbled to 16-month lows against the safe-haven yen late last week as concerns about a trade war gripped markets after Trump announced his plan for steel and aluminium tariffs.
The dollar was trading against the Indian rupee at Rs 64.983, the US currency was at 3.902 versus the Malaysian ringgit and the US currency was at 6.340 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 82.96-82.96 (Previous 82.96-82.96).
In the third Asian trade, the dollar extended its latest retreat on Wednesday after a key advocate for free trade in the White House announced his resignation, fanning fears President Donald Trump would go ahead with tariffs and risk a trade war.
The dollar was trading against the Indian rupee at Rs 64.960, the greenback was available at 3.901 versus the Malaysian ringgit and the US currency was trading at 6.326 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 82.96-82.96 (Previous 82.96-82.96).
The dollar recovered ground on Thursday, drawing relief from positive labour market data and the White House saying Canada and Mexico, and possibly other countries, may be exempted from planned US import tariffs on steel and aluminium.
The dollar was trading against the Indian rupee at Rs 64.905, the greenback was available at 3.906 versus the Malaysian ringgit and the US currency was at 6.3206 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 82.96-82.96 (Previous 82.96-82.96).
In the final Asian trade, the dollar rose versus the safe haven yen on Friday as hopes of a breakthrough in the North Korean nuclear stand-off rose after US President Donald Trump showed willingness to accept an invitation to meet North Korean leader Kim Jong Un by May.
The dollar was available against the Indian rupee at Rs 65.098, the greenback was trading versus the Malaysian ringgit at 3.912 and the US currency was at 6.344 in terms of the Chinese yuan.
In the final NY trade, the dollar was little changed against a basket of currencies on Friday as monthly US job growth data was its strongest in over 1-1/2 years while wage gains slowed more than expected, supporting the view the Federal Reserve would not quicken its pace on raising interest rates.
The yen fell broadly after the Bank of Japan stuck to its dovish policy stance. BOJ Governor Haruhiko Kuroda sounded optimistic on growth, yet stressed there would be no plan to change monetary policy before reaching a 2 percent inflation target.
The index that tracks the dollar against six major currencies fell 0.038 point or 0.04 percent, to 90.141. The euro was down 0.03 percent, at $1.2306.
The single currency also fell on Thursday as European Central Bank President Mario Draghi said regional inflation remained subdued and rising protectionism was a risk.
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