Little changes were seen on the money market on Tuesday as the rupee fluctuated slightly against the dollar in the process of trading, dealers said. The rupee managed to pick up three-paisa against the dollar for buying at Rs 98.50 and it also gained one-paisa for selling at Rs 98.55, they said.
In the second Asian trade, the dollar fluttered higher in Asia, but was kept to a narrow range by caution ahead of this week's US Federal Reserve meeting and concern about escalating violence in Iraq. By contrast, the Australian dollar was one of the session's biggest movers, slipping after minutes of the central Reserve Bank of Australia's June 3 meeting revealed that policymakers were unsure if their stimulus would be sufficient.
The dollar was trading against the Indian rupee at Rs 60.36, the greenback was at 3.2280 in terms of the Malaysian ringgit and the US currency was at 6.2322 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.63-77.63 (previous 77.63-77.63). Call Money Rates: 05.75-07.00 percent (previous 05.50-07.25 percent).
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Open Bid Rs 99.70
Open Offer Rs 99.90
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Bid Rate Rs 98.50
Offer Rate Rs 98.55
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According to the currency dealers, the dollar resumed trading on a negative sign and remained under pressure due to lacking buyers' interest. At close, the dollar was slide down from Tuesday closing of Rs 106.60 and Rs 107.20 on buying and selling counter to Rs 106.50 and Rs 107.00, respectively, the dealers said.
Similarly, the national currency showed strength and was appreciated against the British pound. The pound's buying and selling rates were declined from previous closing of Rs 174.30 and Rs 175.50 to Rs 174.00 and Rs 175.00, respectively, they added.