The dollar maintained its upward trend against the rupee on the currency market on Monday in process of trading, dealers said. Not in very surprising way, dollar is surging, it is understood that the shortage of greenback will make it strong, exporters said.
According to the Reuters: In the first Asian trade, the euro was poised for its biggest daily rally against dollar in almost eight months on Monday, after Spain secured help for its debt-stricken banks and as Chinese economic data was not as bad as the market had feared.
The euro zone decided to lend its fourth-largest economy up to 100 billion euros ($125 billion) to reassure investors and prevent the threat of a bank run in case Greece's crisis heats up again after elections this coming weekend.
This saw euro spike almost one percent to $1.2635, pulling away from a near two-year low of $1.2288 hit earlier this month. Early in the session, it rose as high as $1.2672 on stop-loss buying, hitting its highest level since May 23.
The Indian rupee fell to a near one-week low on Monday after Standard & Poor's warned the country may be the first to lose its investment-grade rating among BRIC nations, adding to worries about India's fiscal and economic outlooks. The partially convertible rupee closed at 55.74/75 per dollar as per SBI data, weaker than Friday's close of 55.42/43. It fell to 55.82 at one point in trade, its lowest since June 5. The rupee had tumbled in May, hitting a series of record lows against dollar as the steep global risk aversion exacerbated concerns about India's economic and fiscal outlooks. Spot yuan closed at 6.3694, 0.83 percent weaker than the central bank's midpoint of 6.3169, surpassing the divergence seen on Friday. But the closing level still placed the yuan 11 pips stronger than Friday's close. Interbank buy/sell rates for taka against dollar on Monday: 81.93-81.95 (previous 81.92-81.95) Call Money Rates: 9.25-15.00 percent (previous 9.25-15.00 percent)

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Buying          Rs 94.35
Selling         Rs 94.38
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Open Buying     Rs 95.40
Open Selling    Rs 95.70
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