The rupee moved in a narrow range against the dollar in the currency market on Tuesday, experts said. The rupee remained under pressure and depreciated against the US dollar and the British pound on the local currency market on Tuesday.
Likewise, the rupee failed to maintain upward trend and declined against pound sterling. The pound's buying and selling rates increased from earlier closing of Rs 151.50 and Rs 152.50 to Rs 151.80 and Rs 152.60, respectively, they added.
In the second Asian trading, the euro dipped to a two-month low against the dollar after the euro zone and the International Monetary Fund failed to agree on a long-term plan to reduce Greece's debt, preventing disbursement of immediate aid to Athens.
The currency was also bruised by the broader risk averse mood as Chinese shares tumbled following state media reports that government housing market curbs will remain in place, sapping optimism that the world's second-largest economy was regaining traction. The dollar was trading against the Indian rupee at Rs 54.88, the greenback was at 3.0625 in terms of the Malaysian ringgit and the US currency was at 6.2262 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 81.71-81.75 (previous 81.70-81.75). Call Money Rates: 09.00-09.00 percent (previous 08.00-09.50 percent).
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Open Buying Rs 96.40
Open Selling Rs.96.60
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Bid Rate Rs.95.90
Offer Rate Rs.95.96
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According to the currency dealers, the dollar was opened at its last week closing of Rs 96.35 and Rs 96.60 as its buying and selling rates, respectively. The dollar witnessed no visible change in its demand and supply situation that helped rupee stability. At the close of trading, the dollar was ended at Rs 96.30 and Rs 96.60 on buying and selling counters, respectively.
Similarly, the national currency showed strength on buying side while it stayed unchanged on selling side in relation to the pound sterling. The pound was purchased and sold at Rs 151.50 and Rs 152.50 compared with last Saturday closing of Rs 151.90 and Rs 152.50, respectively, the dealers said.