The rupee moved up against the dollar on the money market on Monday in the process of trading, dealer said. The rupee gained three paisas in terms of dollar for buying and selling at Rs 104.80 and Rs 104.81 respectively, dealer said.
In the first Asian trade, the pound remained under siege sliding back toward a 31-year low, reflecting the deeply bearish mood of investors after Britain opted to exit the European Union, triggering shockwaves across global markets. The euro was also under pressure, pulled down by sterling, as Brexit clouded the future of the European Union. Sterling was down 2.3 percent at $1.3381, within shot of $1.3228 plumbed on Friday, its lowest since 1985.
The dollar was trading against the Indian rupee at Rs 67.86, the greenback was at 4.1090 versus the Malaysian ringgit and the US currency was at 6.6390 in terms of the Chinese yuan. The pound dropped as much as 11 percent on Friday as positions betting on Britain remaining in the EU were reversed en masse. Inter bank buy/sell rates for the taka against the dollar on Monday: 78.40-78.40 (previous 78.40-78.40).
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Open Bid Rs 104.90
Open Offer Rs 105.10
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Bid Rate Rs 104.80
Offer Rate Rs 104.81
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According to the currency dealers, the dollar commenced trading on a depressed note and remained under pressure due to lacking buyers' interest. At close, the dollar's rate further declined to Rs 105.00 and Rs 105.35 on buying and selling counter as compared with the Saturday's closing of Rs 105.10 and 105.55, respectively.
Similarly, the rupee also observed rising trend and recovered a considerable gain against the British pound. The pound's buying and selling rate went down from the previous closing of Rs 142.30 and Rs 148.60 to Rs 140.20 and Rs 141.20, respectively, they added.
The dollar resumed trading at Rs 105.50 (buying) and Rs 106 (selling) against last rate of 105.60 (buying) and Rs 106.10 (selling). It did not observe further change in the last trading hours and closed at Rs 105.50 (buying) and Rs 106 (selling).
Pound Sterling opened at Rs 151.60 (buying) and Rs 152 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 151.60 (buying) and Rs 152 (selling).