The rupee inched up against the dollar on the money market on Thursday in the process of trading dealers said. The rupee gained two paisas versus the dollar for buying and selling at Rs 104.65 and Rs 104.68, they said.
In the forth Asian trade, sterling licked its wounds near a seven-year low against the dollar, hampered by worries Britain may exit the European Union, while a rebound in oil prices helped stem buying in the safe-haven yen.
The British pound last stood at $1.3942, down 3.2 percent so far this week, with a test of its 2009 low of $1.35 within sight. It slid to $1.3878 on Wednesday, its lowest since early 2009. The dollar was trading against the Indian rupee at Rs 68.57, the greenback was at 4.2120 versus the Malaysian ringgit and the US currency was at 6.5332 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday. 78.45-78.46 (previous 78.48-78.48).
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Open Bid Rs.106.00
Open Offer Rs.106.20
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Bid Rate Rs.104.65
Offer Rate Rs.104.68
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But because of diminishing demand, the dollar failed to sustain itself and declined to Rs 106.00 and Rs 106.40 on buying and selling. The rupee showed some stability and remained unchanged on buying while gaining on selling against the British pound that was bought and sold at Rs 147.50 and Rs 148.50 as compared with the Wednesday closing of Rs 147.50 and Rs 148.50.
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).