The dollar is marching toward Rs 101 mark due to rising demand for greenback on the local currency market on Tuesday, dealers said. The rupee lost 42-paisa in relation to the dollar for buying at Rs 100.45 and it also dropped by 45-paisa for selling at Rs 100.50, they said.
In the second Asian trade, the dollar steadied after Monday's gains on upbeat US housing data and a rise in US bond yields, but traders are waiting for hints on Federal Reserve policy intentions before they test major resistance levels.
The only mover among major currencies in Asia was the New Zealand dollar, which shed a half percentage point after soft economic data pointed to a pause in the country's rate hikes.
The dollar was at 60.68 versus the Indian rupee, the greenback was available at 3.1518 in terms of the Malaysian ringgit and the US currency was trading at 6.1368 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.43-77.44 (previous 77.44-77.44). Call Money Rates: 05.50-07.25 percent (previous 05.50-07.25 percent).
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Open Bid Rs.100.35
Open Offer Rs.100.55
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Bid Rate Rs.100.45
Offer Rate Rs.100.50
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According to the currency dealers, the dollar was opened on a healthy note and kept on rising following fresh buying. At close of trading, the dollar was ended higher at Rs 99.90 and Rs 100.15 as its buying and selling rates against Rs 99.70 and Rs 99.95 of Monday, respectively.
Similarly, the rupee remained weak and was declined against the British pound. The pound was traded at Rs 166.50 and Rs 166.75 on buying and selling counter compared with day earlier closing of Rs 166.25 and Rs 166.50, respectively, the dealers said.
The dollar opened at Rs 99.50 (buying) and Rs 99.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 99.50 (buying) and Rs 99.60 (selling).
Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It did not observe any further fluctuation by the end of the day and closed on the same rates.