Improvement in dollar's supply helped the rupee to continue its surge on money market on Thursday in the process of trading, money experts said. The rupee maintained its upward trend against the dollar, picking up more 33 paisa for buying and selling at 97.37 and 97.42 respectively, they said.
In the third Asian trade, the yen firmed after the Bank of Japan, as expected, eased monetary policy increasing its asset purchases by 10 trillion yen, saying it would review its policy goal in a likely move towards adopting an inflation target.
With expectations matched, traders took profits on their bets against the yen with the end-year holiday period approaching, and the dollar fell 0.45 percent on the day to 84 yen. The dollar was trading against the Indian rupee at Rs 54.85, the greenback was at 3.0570 in terms of the Malaysian ringgit and the US currency was available at 6.2305 in relation to the Chinese Yuan. Inter bank buy/sell rates for the Taka against the dollar on Thursday: 80.00-80.01 (previous 80.10-80.13). Call Money Rates: 11.00-12.00 percent (previous 7.00-12.00 percent).
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Open Buying Rs.97.90
Open Selling Rs.98.10
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Bid Rate Rs.97.37
Offer Rate Rs.97.42
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According to the currency dealers, the dollar was opened on a negative sign and could not sustain due to lacking buyers' interest. The dollar was closed at Rs 98.00 and Rs 98.50 on buying and selling counters against the day earlier closing of Rs 98.50 and Rs 99.00, respectively.
Similarly, the rupee gained strength and was improved on buying side while it stayed unchanged on selling side against the British pound. The pound was purchased and sold at Rs 158.5 and Rs 159.5 as compared to the Wednesday closing of Rs 158.8 and Rs 159.5, respectively, the dealers added.
The dollar opened at Rs 98.50 and Rs 98.60 for buying and selling respectively against the same last rate. It did not observe further change in the evening session and closed at Rs 98.50 and Rs 98.60 for buying and selling respectively.
Pound Sterling opened at Rs 158.5 for buying and Rs 158.6 for selling against same last rate. It did not observe further change in the second session and closed at Rs 158.5 for buying and Rs 158.6 for selling.