Rates moved both ways versus the dollar on the local currency market on Wednesday in the process of trading, dealers said. The rupee appreciated by five-paisa in relation to the dollar for buying and selling at Rs 101.70 and Rs 101.73 respectively, they said.
In the third Asian trade, the yen hit a fresh seven-year low versus the dollar, staying on the defensive after Japanese Prime Minister Shinzo Abe decision to postpone a sales tax rise was read as supportive of risk sentiment. The dollar rose to as high as 117.31 yen, its highest level since October 2007. The dollar last traded at 117.21 yen, up 0.3 percent on the day.
The dollar was trading against the Indian rupee at Rs 61.74, the greenback was at 3.3560 in terms of the Malaysian ringgit and the US currency was available at 6.117 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.57-77.57 (previous 77.55-77.55). Call Money Rates: 06.50-08.50 percent (Previous 06.50-08.50 percent).
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Open Bid Rs 102.00
Open Offer Rs 102.20
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Bid Rate Rs 101.70
Offer Rate Rs 101.73
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According to the currency dealers, the dollar commenced trading at its day earlier closing of Rs 102.10 and Rs 102.35 as its buying and selling rate, respectively. Because of fresh buying, the dollar's rate was moved up and closed at Rs 102.15 and Rs 102.40 on buying and selling counter, respectively.
Similarly, the rupee remained weak and was declined against the pound sterling. The pound was purchased and sold at Rs 159.55 and Rs 159.80 compared with Tuesday closing of Rs 159.50 and Rs 159.75, respectively, the dealers added.
The dollar opened at Rs 103 (buying) and Rs 103.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 103 (buying) and Rs 103.10 (selling).
Pound Sterling opened at Rs 164 (buying) and Rs 164.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 164 (buying) and Rs 164.10 (selling).