Mixed patterns

The rupee adopted divergent trend versus the dollar on the money market during the shortened week, ended on June 23, 2018.
INTER-BANK MARKET RATES: The rupee recovered 18 paisas against the dollar for buying and selling at Rs 121.52 and Rs 121.55.
OPEN MARKET RATES: The rupee lost Rs 1.40 in terms of the dollar for buying and selling at Rs 124.00 and Rs 124.50. While, the rupee gained 30 paisas against the euro for buying and selling at Rs 142.00 and Rs 144.00
Commenting on the firmness of the rupee, some market men said that in the middle of the week, the halted further erosion in terms of the rupee due to slight improvement in supply of the dollar.
They said that the national currency was under pressure versus the dollar and lost over 6 percent only within last two months.
In fact, we can't reject the idea of further devaluation of the rupee in terms of the dollar in the coming days, they said and adding that it looks that the rupee may not fluctuate sharply in the near future.
IN THE INTER-BANK MARKET: On Tuesday, the rupee lost 70 paisas in terms of the dollar for buying at Rs 121.70 and it also shed 30 paisas for selling at Rs 121.80. On Wednesday, the rupee picked up 25 paisas in terms of the dollar for buying at Rs 121.45 and it also gained 30 paisas for selling at Rs 121.50. On Thursday, the rupee shed two paisas in terms of the dollar for buying and selling at Rs 121.48 and Rs 121.52. On Friday, the rupee slipped by four paisas in relation to the dollar for buying and selling at Rs 121.52 and Rs 121.55.
IN THE OPEN MARKET: On June 19, the rupee the national currency fell by 60 paisas for buying and selling at Rs 122.60 and Rs 123.60, the rupee, however, gained Rs 1.75 for buying and selling at Rs 140.00 and Rs 142.00, they said.
On June 20, the rupee lost Rs 1.40 in terms of the dollar for buying at Rs 124.00 and the domestic currency also dropped by 90 paisas for selling at Rs 124.50, they said. The rupee appreciated against the euro for buying and selling at Rs 141.75 and Rs 143.25, they said. On June 21, the rupee showed no change in terms of the dollar for buying and selling at Rs 124.00 and Rs 124.50, they said. The rupee maintained appreciation against the euro, picking up more Rs 1.25 for buying and selling at Rs 140.50 and Rs 142.50, they said.
On June 22, the rupee was unchanged in terms of the dollar for buying and selling at Rs 124.00 and Rs 124.50, they said. The rupee fell sharply against the euro for buying and selling at Rs 142.30 and Rs 144.30, they said. On Saturday, the rupee was unmoved in terms of the dollar for buying and selling at Rs 124.00 and Rs 124.50, they said. While, the rupee gained 30 paisas against the euro for buying and selling at Rs 142.00 and Rs 144.00, they said.
OVERSEAS OUOTLOOK FOR DOLLAR: In the second Asian trade, the dollar fell against the yen and Swiss franc on Tuesday after US President Donald Trump's threats of additional tariffs on China raised worries about an escalating trade war between the world's two largest economies.
China's Yuan fell to a more than 5-month low to the dollar, despite a firmer official Yuan midpoint, as market sentiment soured.
The Japanese yen climbed 0.7 percent against the dollar to 109.795 yen, its highest level in a week, after Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, fuelling trade war worries with Beijing.
Another perceived safe haven during market turmoil, the Swiss franc, also got a boost from the news. It was up as much as 0.3 percent against the dollar to 0.9917 franc.
China's commerce ministry said Beijing will fight back firmly with "qualitative" and "quantitative" measures if the United States publishes an additional list of tariffs on Chinese goods, accusing Washington of launching a trade war. The Yuan slid to a low of 6.4490 to the dollar at one point, its weakest since Jan. 15.
In the third Asian trade, the dollar steadied against a basket of currencies on Wednesday, as risk aversion sparked by concerns over a worsening trade feud between Washington and Beijing ebbed, although lingering worries about the tariff rift kept currencies on edge.
The dollar index against a basket of six major currencies stood little changed at 95.123 after advancing to an 11-month peak of 95.296 on Tuesday.
The index reached the 11-month peak after US President Donald Trump threatened to slap more tariffs on China, prompting an angry response from Beijing. Escalating tensions triggered risk aversion and caused a sell-off in global equities on Tuesday. A degree of calm returned to broader markets on Wednesday after Wall Street shares pared a bulk of their losses overnight.
"Along with the Swiss franc and the yen, the dollar is also a safe haven currency, although perhaps less so than the yen," said Shin Kadota, senior strategist at Barclays in Tokyo. "The dollar's safe-haven status, however, could come under question as it has also become a high-yielding currency."
The dollar was available against the Indian rupee at Rs 68.040, the greenback was at 4.006 versus the Malaysian ringgit and the US currency was at 6.473 in relation to the Chinese Yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 83.70-83.70 (Previous 83.70-83.70).
In the fourth Asian trade, the dollar hovered near an 11-month high against a basket of currencies on Thursday, supported by a rise in US yields, while the pound was at its lowest level since November 2017 ahead of a Bank of England monetary policy decision.
The dollar index against a group of six major currencies stood at 95.243 after rising to 95.299 overnight, its highest since mid-July 2017.
Buoying the greenback, long-term Treasury yields bounced back from three-week lows, as risk aversion felt earlier in the week amid United States-China trade tensions eased for now.
Treasury yields also were propped up by remarks from Federal Reserve Chairman Jerome Powell, who said on Wednesday that the US central bank should continue with a gradual pace of rate increases.
The dollar was available against the Indian rupee at Rs 68.210, the greenback was at 4.010 in terms of the Malaysian ringgit and the US currency was at 6.492 versus the Chinese Yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 83.70-83.70 (Previous 83.70-83.70).
In the final Asian trade, the dollar pulled back from an 11-month peak against a basket of major currencies on Friday as investors took profits after the currency's earlier rally, while sterling rebounded from a seven-month low after a slightly hawkish tilt from the Bank of England surprised the market.
The Philadelphia Federal Reserve's manufacturing index fell sharply to a 1-1/2 year low, raising concern about the world's largest economy and prompting some traders to book profits on bullish dollar bets, analysts said.
"The weak Philly Fed index reinforced fears that President Trump's trade war would hurt the US economic outlook and worsened the mood," said Kengo Suzuki, chief forex strategist at Mizuho Securities.
The dollar was trading against the Indian rupee at Rs 67.868, the greenback was at 4.010 in terms of the Malaysian ringgit and the US currency was available at 6.500 versus the Chinese Yuan.
The rupee did not move any side against the dollar on the local money market on Saturday in process of trading, dealers said.
In the final NY trade, the euro climbed on Friday as traders were encouraged by improved regional economic growth data and new assurances by Italian politicians that their nation would not leave the single currency.
The euro registered a weekly gain of nearly 0.5 percent against the dollar, reversing the prior week's 1.35 percent drop tied to the European Central Bank's hint it would hold interest rates through the summer of 2019.
The euro's advance, together with a rebound in commodity-linked and emerging market currencies, pressured the dollar which ended lower on the week.
The single currency was also bolstered after Greece clinched debt relief and received a cash infusion from the euro zone.
The euro rose 0.5 percent to $1.1662, and increased 0.6 percent to 128.17 yen. Despite this week's gains, the euro is still vulnerable to regional political instability and US tariffs. US President Donald Trump on Friday called for a 20 percent levy on European Union-assembled car imports.
An index that tracks the dollar versus a basket of currencies including the euro was down 0.24 percent at 94.517, retreating from an 11-month peak of 95.529 on Thursday.