The rupee failed to retain its week end gains against the dollar on the currency market on Monday in process of trading, dealers said. Commenting on the present political turmoil in the country, some currency viewers said that the rupee is under pressure, if uncertainties not shed, the local currency may continue its fall versus the dollar.
In the first Asian trade, the dollar edged down against a basket of currencies, as US Treasury yields wallowed close to 16-month lows and made the greenback less attractive. Sterling rose after the Bank of England indicated that UK interest rates may have to rise even before wage growth recovers, backtracking from earlier comments that prompted markets to push out the risk of a rate hike.
The dollar was trading against the Indian rupee at Rs 60.76, the greenback was at 3.1525 versus the Malaysian ringgit and the US currency was at 6.1464 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday. 77.44-77.44 (previous 77.44-77.45). Call Money Rates: 05.50-07.25 percent (previous 05.50-07.25 percent).
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Open Bid Rs.99.85
Open Offer Rs.99.95
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Bid Rate Rs.100.03
Offer Rate Rs.100.05
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According to the currency dealers, the dollar resumed trading at its last week closing of Rs 99.70 and Rs 99.95 on buying and selling side, respectively. In the absence of buyers' interest, the dollar could not sustain and was declined to Rs 99.65 and Rs 99.90 as its buying and selling rates, respectively, the dealers said.
On the contrary, the rupee remained under pressure and was depreciated against the pound sterling. Amid fresh demand, the pound's buying and selling rates were improved from last Saturday closing of Rs 165.75 and Rs 166.00 to Rs 166.25 and Rs 166.50, respectively, they added.