The rupee moved cautiously against the dollar after the Yuan's devaluation on Tuesday in the process of trading, dealers said. According to reports, China devalued the Yuan after a run of poor economic data, guiding the currency to its lowest point in almost three years. The central bank described the move as a "one-off depreciation" of nearly two percent, based on a new way of managing the exchange rate that better reflected market forces.
In the second Asian trade, Chinese Yuan sharply weakened to a three-year low on Tuesday after the country's central bank surprisingly devalued it, dragging down the Australian dollar and adding a potential element of volatility to the region's foreign exchange markets.
In an attempt to make the country's exports more competitive and prop up the economy after recent poor data, China's central bank devalued the Yuan by nearly 2 percent on Tuesday. The Yuan midpoint was set at 6.2298 per dollar, compared with the 6.1162 mid-point on Monday, with the central bank to now base the Yuan's midpoint on market makers' quotes and the previous day's closing price. Spot Yuan plunged roughly 2 percent to as low as 6.3360, weakest since September 2012.
The dollar was trading against the Indian rupee at Rs 63.87, the greenback was at 3.9490 in terms of the Malaysian ringgit and the US currency was available at 6.299 in relation to 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 102.90
Open Offer     Rs.103.10
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Bid Rate       Rs.101.82
Offer Rate     Rs.101.83
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