The rupee played both sides against the dollar on the money market on Thursday, dealers said. The rupee shed two-paisa against the dollar for buying and selling at Rs 104.92 and Rs 104.95 respectively, experts said.
In the fourth Asian trade, the yen hit multi-month highs against its peers while commodity-linked currencies took a fresh hit after China guided the yuan lower for two days in a row, fuelling anxiety about China's economy and its policy intentions.
The dollar dropped as much as 0.7 percent to 117.66 yen, a level last seen in late August. The Australian dollar fell more than 1 percent to a three-month low of 82.80 yen. The People's Bank of China set its official yuan midpoint rate 0.5 percent weaker than Wednesday's fix and its biggest daily fall since last August, when Beijing surprised global investors with an abrupt near 2 percent devaluation of the currency.
The dollar was trading against the Indian rupee at Rs 66.91, the greenback was at 4.4070 in terms of the Malaysian ringgit and the US currency was at versus the Chinese 6.5926. Inter bank buy/sell rates for the taka against the dollar on Thursday: 78.50-78.50 (previous 78.50-78.50).
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Open Bid Rs.105.80
Open Offer Rs.106.00
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Bid Rate Rs.104.92
Offer Rate Rs.104.95
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And the dollar never saw any change in its demand and supply which helped its stability in the open market. It was traded at its day earlier closing of Rs 106.40 and Rs 106.80 on buying and selling.
The rupee did rise against the British pound that was purchased and sold at Rs 154.70 and Rs 155.80 as compared with the Wednesday closing of Rs 155.40 and Rs 156.20.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (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).