The rupee managed to recover modestly against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee extended overnight gains, picking up 15-paisa against the dollar for buying and selling at Rs 104.00 and Rs 104.05 respectively, they said.
In the forth Asian trade, the yen nursed losses against the dollar on Thursday as gains in Chinese equities helped underpin risk sentiment for now and dampened demand for the safe haven Japanese currency. Comments from an influential Federal Reserve official on Wednesday downplaying prospects of a September interest rate hike helped improve market sentiment. In the currency market, investors reacted by unwinding recent moves that lifted both the yen and the euro.
The dollar was trading against the dollar at Rs 66.09, the greenback was at 4.2520 in terms of the Malaysian ringgit and the US currency was at 6.407 against the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.30-6.50 percent (Previous 05.30-06.50 percent).
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Open Bid Rs.104.50
Open Offer Rs.104.75
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Bid Rate Rs.104.00
Offer Rate Rs.104.05
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The dollar resumed trading was hardly kept firm in the absence of buyers' interest and at close ended further lower at Rs 104.60 and Rs 105.10 against Rs 104.80 and Rs 105.40 of Wednesday, respectively.
The rupee failed to maintain its rising trend and depreciated its worth against the pound sterling which was traded at Rs 163.10 and Rs 163.45 compared with the day earlier closing of Rs 162.70 and Rs 163.70, respectively.
The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling).
Pound Sterling opened at Rs 161 (buying) and Rs 161.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 161 (buying) and Rs 161.50 (selling).