Firmness prevailed on the money market on Tuesday as the rupee managed to recover slightly against the dollar in the process of trading, dealer said. The rupee gained six paisas in terms of dollar for buying and selling at Rs 104.74 and Rs 104.76 respectively, dealer said.
In the second Asian trade, the dollar and yen steadied and sterling crawled away from a 31-year low as risk aversion triggered by the shock of Brexit eased slightly, although many investors were still wary of calling a bottom for the battered pound.
The euro was little changed at $1.1042, having put a bit of distance from Friday's three-month low of $1.0912. The pair was confined between $1.1054-1.1010, its narrowest intraday range in nearly three weeks. The greenback also moved in tight range against its safe-have Japanese counterpart, standing virtually flat at 102.04 yen.
The dollar was trading against the Indian rupee at Rs 67.79, the greenback was at 4.0860 in terms of the Malaysian ringgit and the US currency was at 6.6474 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 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.104.74
Offer Rate Rs.104.76
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According to the currency dealers, the dollar resumed trading on a negative sign and remained under selling pressure. At close of trading, the dollar could not sustain and further declined to Rs 104.80 and Rs 105.30 on buying and selling counter as compared with the overnight closing of Rs 105.00 and Rs 105.35.
On the contrary, the rupee failed to hold its strength as it depreciated against the British pound. The pound's buying and selling rate improved from the Monday's closing of Rs 140.20 and Rs 141.20 to Rs 143.00 and Rs 145.00, respectively, the dealers said.
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).