The rupee managed to recover steeply against the dollar on the local currency market on Tuesday, dealers said. The rupee picked up 43-paisa versus the dollar for buying and selling at Rs 101.65 and Rs 101.68 respectively, they said.
In the second Asian trade, the dollar inched higher, while commodity exporters' currencies, like the Australian and Canadian dollars, held above recent lows after a rebound in global commodity prices the previous day. The Australian dollar also drew support from the lack of dovish comments that some traders had been expecting from the Australian central bank's policy review.
The dollar was trading against the Indian rupee at Rs 61.99, the greenback was at 3.4205 in terms of the Malaysian ringgit and the US currency was available at 6.149 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 77.72-77.77 (previous 77.72-77.72). Call Money Rates: 06.25-08.25 percent (Previous 05.75-08.25 percent).
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Open Bid Rs.102.25
Open Offer Rs.102.45
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Bid Rate Rs.101.65
Offer Rate Rs.101.68
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According to the currency dealers, the dollar was opened on a depressed note and remained under selling pressure. As a result, the dollar was ended lower at Rs 102.40 and Rs 102.65 on buying and selling side against Rs 102.75 and Rs 103.00 of Monday, respectively.
However, the rupee maintained downward slide for another day and was declined against the pound sterling. The pound's buying and selling rates were improved from overnight closing of Rs 160.35 and Rs 160.60 to Rs 160.75 and Rs 161.00, respectively, the dealers said.
The dollar opened at Rs 102.30 (buying) and Rs 102.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 102.30 (buying) and Rs 102.40 (selling).
Pound Sterling opened at Rs 159 (buying) and Rs 160 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 159 (buying) and Rs 160 (selling).