Firmness prevailed on the money market on Wednesday as the local currency maintained overnight gains in process of trading, dealers said. The rupee gained against the dollar, picking up 6 paisa for buying and selling at Rs 100.94 and Rs 100.98, they said.
In the third Asian trade, the dollar nursed hefty losses following a brutal shakeout of bullish positions as investors found incentives to take profits as the year-end loomed.
The greenback slid to 118.780 against the yen, a safe haven destination in its own right, having dropped more than 2 percent at one stage to 117.90 in a vicious turnaround from a seven-year peak of 121.86 set on Monday.
The greenback was available at Rs 62.03 versus the Indian rupee, the US currency was trading against the Malaysian ringgit at 3.4725 and the dollar was 6.174 in terms of the Chinese yuan. Inter-bank buy-sell rates for the taka against the dollar on Wednesday: 77.85-77.85 (previous 77.84-77.85). Call Money Rates: 06.25-08.25 percent (Previous 05.75-08.25 percent).
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Open Bid Rs 101.30
Open Offer Rs 101.50
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Bid Rate Rs 100.94
Offer Rate Rs 100.98
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According to the currency dealers, the dollar was opened on a depressed note and remained under selling pressure during the day's trading. At close of trading, the dollar was ended lower at Rs 101.30 and Rs 101.55 as its buying and selling rate against Rs 101.60 and Rs 101.85 of Tuesday, respectively, the dealers said.
However, the national currency showed stability and stayed unchanged against the pound sterling. The pound was traded at its day earlier closing of Rs 158.25 and Rs 158.50 on buying and selling counter, respectively, they added.
The dollar opened at Rs 101.30 (buying) and Rs 101.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.30 (buying) and Rs 101.40 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 159 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 159 (selling).