The rupee managed to recover further ground against the dollar on the money market on Thursday, dealers said. The rupee posted fresh gains of 25-paisa in relation to the dollar for buying and selling at Rs 104.55 and Rs 104.57 respectively, they said.
In the fourth Asian trade, the dollar nursed hefty losses against the yen and euro after tumbling overnight when a top Federal Reserve official tempered expectations on the timing of future US interest rate increases. The US currency took a beating on Wednesday after New York Fed President William Dudley said financial conditions were considerably tighter and a weakening outlook for the global economy would have to be taken into account.
The dollar was also weighed down by a survey from the Institute of Supply Management (ISM) showing activity in the vast US services sector slowed to a near two-year low in January, adding another layer of uncertainty on the Fed's near-term policy path.
The dollar was almost flat at 118.01 yen after dropping 1.7 percent overnight. The greenback handed back all the gains made against the yen after the Bank of Japan (BOJ) adopted negative interest rates late last week, pushing the dollar to a 6-week high of 121.70. The dollar was trading against the Indian rupee at Rs 67.85, the greenback was at 4.1520 versus the Malaysian ringgit and the US currency was at 6.5778 against the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 78.677-78.70 (previous 78.63-78.65.

========================
Open Bid       Rs.106.20
Open Offer     Rs.106.40
========================

========================
Bid Rate       Rs.104.55
Offer Rate     Rs.104.57
========================