THE RUPEE: rates almost inert

15 Nov, 2012

The rupee-dollar parity rates were almost unchanged on the currency market on Wednesday in process of trading, experts said. The rupee shed two-paisa in relation to the dollar for buying at Rs 95.92 while, it inched up by one-paisa for selling at 95.95, they said.
In the third Asian trade, the euro hovered near a two-month low, hurt by uncertainty over Greece and weak German economic sentiment data that highlighted the growing pain in stronger European economies from the region's protracted debt crisis.
The euro edged up 0.2 percent to $1.2722, but was still not too far from a two-month low of $1.2661 set on Tuesday, when the euro slipped on a weak German ZEW sentiment survey. The dollar was trading against the India rupee at Rs 54.88, the greenback was available versus the Malaysian ringgit at 3.0605 and the greenback was at 6.225 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 81.73-81.75 (previous 81.71-81.75). Call Money Rates: 07.75-08.50 percent (previous 07.50-09.00 percent).



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Open Buying Rs 96.40
Open Selling Rs 96.60
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Bid Rate Rs 95.92
Offer Rate Rs 95.95
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According to the currency dealers, the dollar resumed trading on a healthy sign and witnessed fresh demand. As a result, the dollar was moved up from the last day closing of Rs 96.40 and Rs 96.75 to Rs 96.55 and Rs 96.80 on buying and selling sides, respectively.
Similarly, the rupee was depreciated on buying side while it gained strength on selling side against the pound sterling. The pound was purchased and sold at Rs 152.10 and Rs 152.50 compared with Tuesday closing of Rs 151.80 and Rs 152.60, respectively, the dealers said.

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