The rupee managed to sustain its levels against the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee depicted no changes against the dollar for buying and selling at Rs 101.83 and Rs 101.84, they said.
In the second Asian trade, the dollar firmed as cautious investors covered short positions ahead of the start of a two-day US Federal Reserve meeting and as a continued slump in Chinese equity markets sapped appetite for riskier assets.
The safe-haven yen was below the previous session's highs hit after Shanghai stocks tumbled 8.5 percent, their biggest drop in eight years, which helped pull down European and US share markets. Losses continued into Tuesday's trading, even as Beijing pledged more support.
The dollar was trading against the Indian rupee at Rs 64.04, the greenback was at 3.8130 in terms of the Malaysian ringgit and the US currency was at 6.2095 against the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.30-6.50 percent (Previous 05.25-06.50 percent).
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Open Bid Rs.102.80
Open Offer Rs.103.00
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Bid Rate Rs.101.83
Offer Rate Rs.101.84
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The rupee remained under pressure and lost 30 paisas versus the dollar for buying and selling at Rs. 103.10 and Rs. 103.35 against Rs. 102.80 and Rs. 103.05 of Monday, respectively. The pound sterling's buying and selling rates improved from the overnight closing of Rs 158.50 and Rs. 159.25 to Rs. 159.00 and Rs. 159.50, respectively.
The dollar opened at Rs 102 (buying) and Rs 102.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.20 (selling).
Pound Sterling opened at Rs 157 (buying) and Rs 157.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 157 (buying) and Rs 157.50 (selling).