The rupee managed to hold firm trend against the dollar on the money market on Thursday, dealer said. The rupee did not move sharply against the dollar for buying and selling at Rs 104.80 and Rs 104.82 respectively, dealer said.
In the fourth Asian trade, the yen surged, taking some of the wind out of the sails of the recently buoyant dollar and leaving investors scrambling to cover positions. The dollar earlier had stuck close to its recent ranges, as investors looked ahead to a speech by Federal Reserve chief Janet Yellen on whether a rate increase is imminent and on a pending decision on a planned sales tax hike in Japan.
Then a sudden spike in the yen in relatively illiquid conditions triggered stop-loss orders and brought the Japanese currency as low as 109.42 from a session high of 110.235. It was last at 109.55. The dollar was trading against the Indian rupee R 67.35, the greenback was at 4.0800 in relation to the Malaysian ringgit and the US currency was at 6.5565 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 78.40-78.40 (previous 78.40-78.40).

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Open Bid       Rs.105.40
Open Offer     Rs.105.65
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Bid Rate       Rs.104.80
Offer Rate     Rs.104.82
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