The rupee halted further losses against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee did not show any change against the dollar for buying at Rs 105.50 it rose by three-paisa for selling Rs 105.52, they said.
In the forth Asian trade, the dollar held near 2-1/2-month highs against a basket of currencies after the US Federal Reserve signalled it may raise interest rates in December, when the European Central Bank is widely expected to add to its stimulus.
The reaffirmation of a contrasting direction in monetary policy was enough to boost the dollar index to as high as 97.818, its highest level since August 10. The dollar was trading against the Indian rupee at Rs 65.16, the greenback was available at 4.2820 in terms of the Malaysian ringgit and the US currency was at 6.3580 against the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 78.00-78.03 (previous 77.93-77.98).
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Open Bid Rs.105.50
Open Offer Rs.105.70
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Bid Rate Rs.105.50
Offer Rate Rs.105.52
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According to the currency dealers, the rupee lost 40-paisa for buying and selling at Rs 105.60 and Rs 105.95 against the dollar compared with the Wednesday closing of Rs 105.20 and Rs 105.45, respectively. However, the rupee recovered some of its earlier loss and improved against the pound sterling. The pound was purchased and sold at Rs 160.10 and Rs 161.00 against the overnight closing of Rs 160.35 and Rs 161.05, respectively, the dealers said.
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 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).